Yeah, guys who are not eligible for the initial draft are eligible for the following year's draft.
And, I originally was thinking I would put restrictions on positions, but I think with all of the teams trying to draft bad teams with the limited player pool it won't be neccesary. There are only so many 1B, Outfielders, and 25 IP pitchers. There are 821 players in 1969, and 600 will be selected. So by the end of the draft, teams are going to be forced to take some pretty good players. It won't be easy to pick a team that will suck for years.