An ex-CIA agent sets out for cold, hard revenge against the ruthless villain and his group of trained assassins who murdered her husband.

When his boss is killed, Detroit cop Axel Foley finds evidence that the murderer had ties to a California amusement park called Wonder World. Returning to sunny Beverly Hills once more, Foley reunites with Detective Billy Rosewood to solve the case. Along with Billy's new partner, Detective Jon Flint, they discover that Wonder World is being used as a front for a massive counterfeiting ring.

A spoof 1950s science fiction movie, interspersed with various comedy sketches concerning late night television.

Axle Foley, while investigating a car theft ring, comes across something much bigger than that: the same men who shot his boss are running a counterfeit money ring out of a theme park in Los Angeles.