The film begins as Sunny Calzone (Hoge), the #1 son in a mafia family, has a passionate love scene interrupted by a bunch of assassins. After being shot repeatedly, run over, attacked by a raptor, and nearly blown up by a car bomb, Sunny ends up tripping over his shoelaces and knocking his head against a fire hydrant.
Cut ahead to Sunny's funeral, where we are introduced to the film's protagonist: Giuseppe "The Guppy" Calzone (Kevin McDonald), the family's #3 son. As his oldest brother is now dead, and the #2 son has been banished for committing an unthinkable act, it is his job to take up his ailing father's (Dom De Luise) position and lead the Calzone crime family into a new era. Along the way, he must deal with problems such as bankruptcy, the CIA, and a rival mafia family headed by the Rodfather (Rodney Dangerfield) that wants to bring the Calzones to their knees.
This film provides examples of:
- Affectionate Parody: To Mafia movies such as The Godfather.
- Credits Gag
- Rubber Dolly...."Elaine."
- Paraphrased: "No people were harmed during the making of this film...but we blew the s*#@ out of that cab."
- Hooker with a Heart of Gold: Lampshaded when those exact words are used as the #2 son's wife talks describes her job during the final scenes.
- No Fourth Wall: At one point, Guppy tries to talk the audience into buying "The Godson" merchandise to help solve his bankruptcy problem.
- Not Quite Dead: During the funeral, it's revealed to the audience that the about-to-be-buried Sunny Calzone is still alive. He escapes in time for the final scenes...which occur six months after he was buried.
- Wholesome Crossdresser: Bugsy...I mean, 'Alice.'