If he overheated it he may have lost a head gasket. It may have filled a cylinder or 2 with water. How does the oil look?
I would pull the plugs and try to crank it over. Water is incompressible and can bend your rods if you try to crank it over with water in the cylinders.
If it has water in the cylinders, crank it over to push it out, then dump some light oil like ATF or Marvel Mystery oil in the cylinders. Not much, a tablespoon or two will work fine. I use a cheap turkey baster for this. If the head gaskets are bad, compression test it, you have to pull it apart anyway so you will be able to check out the pistons and cylinders.
If the engine is ruined, I would strip parts from it to use on your other one.
I have always wondered what a Montero with a 3.8 or a 4.3 a 4L60E and an NP 241 would be like. The 3.8 was offered with a supercharger too! Or maybe a 4.9 Caddy V8 or a NorthStar engine. You can rebuild the 4L60E to 4L65E Corvette specs and have a bulletproof transmission. I would lean heavily toward the 3.8 or 4.3 since they are plentiful and cheap and both were used in RWD applications.
You would have the simplicity of the American running gear with the Mitsubishi body and chassis. Win/Win in my opinion.
What side does the Montero front driveshaft enter the pumpkin, driver or passenger side? NP 241's can be had either way.
Misread the put-put, so you actually got it to run a bit? Bad head gasket will still cause low compression and poor running.