Let P have coordinates $(x, y, z)$. P divides the segment connecting $(3, 6, -1)$ and $(6, 2, -2)$. Using the section formula:
The $y$-coordinate of P is 4. The ratio of division is determined by:
\[
\frac{y - 6}{2 - y} = \frac{4 - 6}{2 - 4} = 1
\]
This indicates a 1:1 ratio, meaning P bisects the segment.
The $z$-coordinate of P is the average of the endpoints' $z$-coordinates:
\[
z = \frac{-1 + (-2)}{2} = -\frac{3}{2}
\]
Therefore, the correct $z$-coordinate is $\frac{3}{2}$.