Hey Mike,
I used regular old DOT 3 synthetic in my 404. As Bjorn said, the shoe to drum adjustment is critical. I would jack each wheel off the ground and adjust each brake shoe until it touches the drum and back it off a bit. Give the wheel a spin and make sure they aren't dragging. Is his Mog a radio truck with the trailer air control or a troop truck? If it is a radio truck, the rear trailer air control can hold a lot of air since it is the highest spot in the brake system. There is a brake bleed on top of it too. I would start with the air control and then the left rear and then move forward with bleeding. While you have each wheel jacked up adjusting the shoes, have someone step on the pedal and see if it stops the wheel. If not there may be one or more bad wheel cylinders. Also, if the Mog was trailered anywhere in the past, check the brake lines where they cross the top of the axle tubes. Some people chain the axles when hauling trucks. This will crush the brake lines on a 404. My rear line was crushed when I got mine.
Good luck!