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Have you checked if either of the drive shafts from transfer case outputs to front and rear diffs are turning with the engine running gear engaged and clutch engaged? The problem could be simply a broken axle or diff pinion shaft, with either of these occurring you will end up with no drive, try engaging centre diff lock, if one diff or the other is the problem the vehicle will drive on the other diff.
I have experienced the same problem you describe when the front diff pinion shaft snapped in my old Rangie classic, drove it home with the front driveshaft removed and centre diff lock engaged.
Only if a drive shaft snaps at front and rear at same time would you get no drive on a P38. You can actually drive one with either the front or rear prop shaft removed and just one in place. Unless the VCU fails totally loose which is highly unlikely.