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That much water....get the oil out of it NOW. Run a sludge eating additive too. (CD2 or something similar) Too much possibility that you have water in the crankcase. The electrical situation sounds like you got enough moisture in the alternator to damage either a diode or the entire voltage regulator. Have the alternator load tested.
The "click" sounds more like the starter isn't turning - you probably hydrolocked the engine. Pull ALL the spark plugs and spin over for several seconds to blow all the water out of the intake.
Ford alternators are built pretty tuff and durable. Water should'nt bother the diods much unless it was under what for more than a 5min. or more and if they shorted real bad. The voltage regulater should be replaced right away cause they can take some water but no nearly as much as the alternator itself. This all depends on what years your bronco is cause you'll either have internal regulator or external. Eithewr way get the alternator checked out.
Good luck bro.