Redirect the Behavior
Rather than using corrections (a polite word for “punishment), either redirect or interrupt the dog before he starts the behavior. At the first sign of undesirable behavior, the dog must be interrupted and redirected to a more appropriate behavior. An interruption could be something like saying the dog's name, or touching the dog on the shoulder, or turning away from whatever captured his interest.
Pay attention to your dog's levels of distraction and excitement. Overstimulation will prevent him from learning anything. Build up to working around intense distractions rather than jumping into chaos and hoping for the best.
To work effectively, interruptions must be delivered before the dog starts the behavior. In the case of barking, for instance, if you wait until the dog is barking and frantic you will not be able to distract him from what he's barking at in order to teach him anything.
For a dog with a one-track mind, you could use a strong correction and it still wouldn't phase him or stop his behavior. It would be like trying to reason with someone who is angry. A person not in a rational frame of mind is not capable of listening to you or being reasonable.
Instead, start paying attention to what triggers the barking, and interrupt the dog while he's still thinking about it. To short-circuit an undesirable behavior, you might have the dog go to his bed or move further away from the distractions so he's not as excited.
Your goal is to interrupt him close to the distractions, but it is unreasonable to try to train him there in the beginning. As with any constructive and lasting training, you need to start with small, simple steps that enable the dog to be successful.
Providing appropriate things to chew on is essential to prevent destructive chewing.