Motorcycle Repair: Jack Shaft Issue, couple teeth, shaft collar

Question
I had a hard stop (panic) and geared down pretty quick.  Stupid me let the clutch out in 1st and heard what sounded like a small piece of metal snap.  No biggy.  Stopped for lunch and road for another 30 kms (20 miles) and then the bike sounded funny in the lower end.  I pulled over for gas.  Filled her, started up and when i put her into 1st, she grinded like a truck tranny.  I decided to continue on and there was clunking in every gear whenever there was torque up or torque down.  I maxed out and continued no faster than 80 kph (50ish mph).  Anyway, I inspected the inside of the crankcase.  No teeth missing, but the chain was loose (inch + play ---- ouch).  Additionally, the jack shaft came right out...the bushings immediately dropped inside and the seal is shot.  I am thinking I might have stretched the chain and/or snapped a retaining ring or something?  I don't want to take it to a dealer if its something i can diagnose and repair myself.  Busted my wrist and a Canadian winter coming so I have time.  No teeth broken and everything seems solid.  There is fresh wear on the bike side of the pinion shaft collar and tiny fresh wear on the bike side of the teeth edges on the outer drum clutch.  It's an 88 FLHSTC and the orginal drive belt needs replacing as well.  Lots of play and missing a couple teeth.  I am a backyard mechanic.  Advice on what I might be looking for to isolate the problem would be appreciated.  My opinion is that I stretched the primary chain (which a guy told me was getting loose after listening to it at Port Dover) and did something to the jack shaft....thoughts?

Answer
Hi Al,

Sounds like you may have washed out the inner primary where the jackshaft bearings press in. Usually when the bearing surface is all good, with the clutch basket in place, the jackshaft SHOULD NOT slide out without removing the basket. I would take this area apart and look closely, if the basket has ANY play, or the outer race for the jackshaft does, i wouold look into a new inner primary and replace all ajoining parts.

Hope this helps!!

~Mark Panka