Actually, the draft will go one as usual. It's supposedly covered by the current collective bargaining agreement in terms of any work stoppage.
So if there is no NHL hockey next season, the 2005 NHL Entry draft will still take place that June.
Imagine the last place team winning the lottery both times and getting both Ovechkin and Crosby? Unlikely, but possible.
Thankfully we won't have to worry about that double impact in the HFNHL, as our season will go on with new standings to sort out the draft order. I believe Reggie Swingstein did a great job in playing moderator between the HFNHL Board of Governors and HFNHLPA in order to make that happen.