The distributor has nothing to do with the timing chain. First you obviously need a new distributor. Next, inspect the mating gear on the camshaft to see if that needs to be replaced. If you need a new camshaft, you must also replace the lifters because they wear together. That's assuming your engine has lifters. You didn't state the engine size. Finally, be sure to change the oil to get the metal filings out. Since not all the oil ever drains out, two oil changes close together might be a good idea.