A dunking in water, in and of itself, isn't the end of the world...Not drying it out right away could be detrimental, though.
A thorough tear-down and drying out is in order. WD-40 is your best-est friend here.(don't spray energized electronics) Compressor is nice to dry stuff off, but not necessary. Then lube everything back up, put it back together and go hit it again!!!

I once witnessed my buddy driving his tmaxx in snow...no body, no air cleaner....He got some momentum, cranked the wheel, pegged the throttle, and roosted snow right into the carb. He never took the plug out or anything...Just kept cranking, and cranking, and cranking...Eventually it fired up, and spewed nasties from the stinger.[:'(] I've seen him get stuck in a huge, rutted puddle, and drown the engine in stirred up muck, too. He seemed to be plagued with an assortment of problems...Mostly arising from not cleaning up after making a mess.
I made a set of skis for my GT and have a bit of fun in the snow and wet, and I haven't had any problems yet...But I dry it out and try to protect it some.
You don't have to clean your room, clean your plate, or clean up your act....But you NEED to clean your truck![8D]