Option 1-Weld a hex nut onto the bottom of the existing plug by welding the inside of the hole solid!! The heat from welding will help loosen the plug. Then put a wrench on the hex nut & spin off. Replace with a new drain plug. The oil will be fine, but if you were taking off the drain plug, you were probably replacing it anyway!!!
Option 2-Get a set of vise grips on the drain plug (side ways) & adjust it as tight as you can!!!! Get a propane tank or mapp gas (is hotter) and heat up the plug in the center of the plug. Heat 1-2 minutes, try to turn vise grips counterclockwise, if it doesn't come lose, heat another 1-2 minutes, should come lose then!! DO NOT put heat on the transfer case housing!!!! BE VERY CAREFUL NOT TO FORCE IT OFF OR YOU"LL STRIP THE TRANSFER CASE THREADS!!!!!!! YOU WILL HATE LIFE IF THIS HAPPENS!!!
GOOD LUCK!!!!