"Topper" Harley es un piloto de élite, un "Top Gun" de las fuerzas aéreas norteamericanas, que tiene que convivir con el legado de su padre y que mantiene una dura rivalidad con otro piloto, Kent Gregory. Un día se le encomienda una dura y peligrosa misión: destruir una planta nuclear de Sadam Hussein.

The gang that created Airplane! and The Naked Gun sets its sights on Top Gun in this spoof. Topper Harley is a talented but unstable fighter pilot with an axe to grind: clearing the family name. His mission is to avenge his father and save a mission sabotaged by greedy weapons manufacturers. He also gets involved in a relationship with Ramada Thompson, a woman with an unusually talented stomach. Hot Shots! makes fun of a variety of other films, from Dances with Wolves to The Fabulous Baker Boys.