Story is about cute, blonde co-ed, Desiree Lane who has a crush on an exchange student and a professor who has a crush on her. She can’t stop herself getting involved in extracurricular activities (involving other guys or girls). The exchange student isn’t exactly crazy about the stuff she gets up to and decides she’s a bit too much for him to handle so he goes off with someone else. The professor pines for Desiree (but still gets a little on the side with his secratary after she rebuffs him). Eventually Desiree comes to her senses and realizes that it’s the professor that she really wants.
Adventurer Louisiana Smith comes to the rescue of Jungle Jane as she is about to be sacrificed by lusty Indians in the Yucatan in 1936. Suddenly, we cut to the offices of Marble Comics where comic artist nerd Elmo Smathers has been fantasizing, in Walter Mitty fashion, as his boss gives him a talking-to. His depravities are under fire by a sexy Comics Code representative. As the latter loosens up, throwing herself at the boss of the comic book company, Elmo fantasizes over other scenarios including himself as Johnny Ace, WWI ace pilot, battling the German Black Baron; as Private Eye Jack Hammer; and as a heroic construction worker who is transported to a spaceship by the galactic overlord, Megazon (along with a beautiful and innocently by-standing earthling). The “Blonde Goddess” makes an appearance in each fantasy.
The story involves a hectic and hilarious chase as Mrs. Leautrec (Juliet Anderson) and her dashing son Paul (Ron Jeremy) stalk three incredibly beautiful diamonds through the ballrooms and bedrooms of Europe, using love and lust as tools of their trade. Hot on the trail of the third and finest diamond, our notorious heroes find themselves at an elegant New York disco where Mrs. Leautrec meets the diamond’s owner, Mr. Greenfield, while Paul strikes an unusual sexual bargain with the lady in red (Samantha Fox). Mr. Greenfield, a multi-millionaire, invites Paul and his mother to his annual masquerade and orgy. As hundreds of masked party-goers publicly pursue their favorite perversions, Paul and his mother are caught in an incestuously devious trap, causing them to lose the diamond to another thief (Veronica Hart).
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The impending approach of Venus – known to cause “disturbing erotic behavior” – sends two men with very different missions to the town of Petit-Bois. One to save the schoolgirls from lust, the other to test a new aphrodisiac. Chaos ensues.