A classical dynamical model that treats breakup stochastically is presented for low energy reactions of weakly bound nuclei. The three-dimensional model allows a consistent calculation of breakup, incomplete, and complete fusion cross sections. The model is assessed by comparing the breakup observables with continuum discretized coupled-channel quantum mechanical predictions, which are found to be in reasonable agreement. Through the model, it is demonstrated that the breakup probability of the projectile as a function of its distance from the target is of primary importance for understanding complete and incomplete fusion at energies near the Coulomb barrier.