Inside the torque tube

I Have a 1965 Classic 2dr sedan with a 327 in it. I took out the rear and trans to put a new clutch in it. This is the second one I have taken apart. I think in the process I pulled the propeller tube out past the pinion seal. I tried to get it to go back in with no luck. I didnt know it would pull that far out while pulling the rear out. Is this normal for the shaft to free float inside the tube?Do you think I have to take it apart at the pinion seal to get it back together?

I think you need to separate the outer tube and it wouldn't hurt to put in a new seal in that cone that sits between the tube and the housing. You should be able to get a seal number from the old one that comes out. The TSM shows to do it with a bit of sealant at the forward end of the coupling to prevent oil from traveling past the splines and it does show a spacer between the pinion shaft and the prop shaft. 

Next time, just leave the axle, torque tube, and transmission bolted together, unbolt the trans from the engine, and move them all rearwards together until you can drop the trans down.

Thank you!! I wish I could find a break down picture of this set up!. I looked but none that was straight forward.

There is just a simple slip coupling between the drive and pinion shaft. That coupling must have pulled off. You have to take the tube off the axle to line things back up and get it back on. The V-8 uses a two piece shaft with solid rear, tubular front, and a CV joint (63-66 only, earlier used a single u-joint, IIRC still a two piece shaft). Sixes use a single solid shaft. There is a bearing in the center. The bearing is attached to the shaft and pulls out the front when the shaft is removed, so it's not an issue.