Ralphie is now all grown up and must deal with Christmas and all that comes with it… as a dad.

To stay out of the slammer, down-on-his-luck bounty hunter Vince Holloway reluctantly agrees to do the bidding of two crooked IRS agents. Tasked with recouping $20 million of laundered drug money, Holloway heads south of the border to the Blue Iguana, a bar crawling with thugs, killers, smugglers, evil women, and crazy action.

High school student Lane Meyer sinks into suicidal depression when his girlfriend dumps him for jock Roy Stalin, the high school ski racing champion. Meanwhile, he has to deal with his eccentric family, a tenacious paperboy and an obnoxious neighbor whose mother is hosting a beautiful French exchange student named Monique.

The comic mishaps and adventures of a young boy named Ralph, trying to convince his parents, teachers, and Santa that a Red Ryder B.B. gun really is the perfect Christmas gift for the 1940s.