Throwing a rod is not going to be an easy fix because it means pulling everything apart to fix it and the crank may already be toast. Also bent valves are a possibility as the piston does funny things when it is remote from the rod.
On the lighter side you could just remove whats left of the rod weld up the oil holes in the crank and grind the lobes off the cam on that cylinder to get a 3 cylinder that vibrates to hell
