Sounds to me like a shear pin has done it's job.:thumbsup: One of the main drive pulleys probably has a pin or bolt designed to shear if excessive shock is put on the system. The Key, Pin, or Bolt is designed to shear instead of causing more damage.
With all the pulleys and belts showing - turn the blades and watch for a pulley moving that is not turning a shaft and then look for a key pin or bolt hole that should be keeping the pulley turning with the shaft.
If you can find specific model and serial numbers of the mower you may be able to get design drawings from Sears.