Saving Overwatered Plumeria?

I had to repot my plumeria into a bigger pot. The limbs grew at least a foot and a half within a few months. I had to tie one limb to a stake to hold it up and the other to another limb. Today I came home and it is all limp and has been in standing water for at least a few days. I drained the water and added some dry soil. What else can I do? Is it going to die of root rot now?

By Becky R