What is the most logical next event?

How to make a traction splint for a fractured femur
Check the abc's :
Airway, breathing and circulation. Trauma significant enough to snap a femur is likely strong enough to cause other issues, possibly even rendering the victim unconscious. If this is the case, you must make sure he has an open airway, is breathing (with or without intervention) and he has a pulse.
Apply traction and maintain traction through the entire process. This is going to require an additional rescuer.