We may not have a choice in the matter. Aside from the question of whether or not players with NMCs will be required to be placed on a team's protected list, there's the additional question of how impending UFAs with NMCs (such as Bishop) will be handled. A worst case scenario could see us being required to protect Bishop due to his NMC, and thus being forced to expose and likely lose Vasy, only to then see Bishop potentially walk via free agency less than a month after the expansion draft. Forget losing one of our goalies due to the draft - we might actually lose them both!
Ideally of course the league would see the ridiculousness of something like this happening and come up with a fair solution to prevent it (the most obvious being not requiring impending UFAs to be protected), but if not we could be in a lot of trouble. We could possibly trade Bishop to another team before the draft (which would theoretically clear his NMC and allow that team to leave him unprotected) in exchange for sending a pick or prospect their way or possibly even returning the favor in kind, but there's no guarantee that Bishop would approve such a move. Or if Bishop is planning to resign with us he might also be able to waive his NMC for the draft so we can keep Vasy as his backup, but even if that is an option who knows if Bishop would be willing to do that to keep his likely eventual replacement around? From a purely selfish point of view his best move would be to force us to protect him so that we lose Vasy, and then hold our feet over the flames in negotiations (either we pay him big money or we lose both our goalies.) Hopefully he wouldn't do that, but depending on how the rules shake out he's going to have all the power.
It could be just as bad if the draft is moved back a year to 2018. Aside from the additional young prospects who would be exposed, if we've resigned Bishop at that point (which would almost certainly require giving him a NMC again) we'd have absolutely no way of protecting Vasy. At least we wouldn't lose both goalies in that scenario, but we'd also have no way of keeping both (unless we somehow bribe the expansion team(s) with enough picks/players for them to pass on an immensely talented future franchise goalie, which is both unlikely and could potentially be even worse than losing Vasy.) The more likely scenario is that we simply wouldn't resign Bishop, which would still suck but at least allow us to keep the younger and cheaper of the two.
In short this draft is could put us in a VERY tight spot.