HELP? 1977 Chevy Driven with Parking Brake On

[1977_LEROY]

Got home yesterday and my wife had taken the 1977 Chevy Scottsdale to drop off my son at work about 5 miles away and then drove it right back. The rear left wheel assembly was smoking like the truck was about to catch fire and you could smell burnt rubber. Thank God it didn't... Now... Rewind to when I parked it the day before on Sunday... I naturally put the manual parking brake on and my son or wife did not realize it when they drove it to his work and back yesterday. I am not sure how they didn't feel it. Plus, the parking brake light was not illuminated when I hopped in it yesterday to disengage it. My wife did say it felt a bit sluggish while driving it home. I need to know what my next steps should be??? Will the brakes work at all now... Will the parking brake still work? Do i need to get the truck up on jacks and check things out? Would driving it up and down the road with parking brake off be okay? This is my first post and since I am mechanically inclined but have a lack of working knowledge... I joined this forum for some support. We just picked up the 1977 Chevy "Leroy" (his Nickname) about 2 weeks ago. Leroy is going to be in our family for many years to come.

Any help or guidance is very much appreciated.