After being rejected by the elitist Pi sorority, Fairenville University students, Honey, O’Hara, Teri Lynn, and Sam, decide to form their own club, called H. O. T. S., an acronym of their first names. As revenge for their poor treatment, the four women pledge to divert men on campus away from Pi. To start, they renovate a dilapidated house for their headquarters and recruit other sorority outcasts, including Clutz, Boom-Boom Bangs, Conchita, Debbie, Candi and Brandy. For their inaugural “bash,” the women advertise that the buxom Boom-Boom will perform a daring feat. Subsequently, they attract a large crowd to the party. There, O’Hara sells H. O. T. S. merchandise, Honey collects money at her kissing booth, and Teri Lynn brews moonshine in the attic. In the midst of the festivities, two escaped prisoners, Charlie Ingels and Bugs Benny, arrive looking for a stash of money that was hidden in the old house by their former partner and mingle with the young guests. Meanwhile, nearby, the dean of Fairenville University, Larry Chase, hosts a formal gathering in his backyard which includes a poolside performance by an opera singer. From a small plane, Boom-Boom prepares to skydive to the H. O. T. S. house. As partygoers rush outside to watch, Charlie and Bugs believe everyone is dodging a police raid and quickly leave the property. During the jump, Boom-Boom accidently loses her bikini top in mid-air and lands off-target into Dean Chase’s swimming pool. The dean is horrified and his guests are speechless, but the H. O. T. S. crowd is amused as they arrive to rescue the topless daredevil. In the aftermath, the episode makes the front page of Fairenville’s student newspaper and Mr. Chase, along with Melody Ragmore, president of the university’s Inter-Sorority Council and the Pi sorority, charge the founders of H. O. T. S. with “moral misconduct.” When they misinterpret the club’s acronym as “Hold On To Sex,” Sam announces that H. O. T. S. is actually an environmental society, whose abbreviation represents “Help Out the Seals.” She then introduces their mascot, a live seal named Slinky. However, the dean demands that H. O. T. S. members conform to sorority rules, which means the women must acquire a housemother and sustain a passing grade point average. Otherwise, the club will be dissolved. When the founders arrive home, they are unexpectedly doused by buckets of water in a practical joke set up by Pi sorority sisters. Provoked, Honey and her friends prepare for “war” against their rivals. During the exchange of pranks between the two organizations, Honey wins a major victory by stealing Melody’s boyfriend, Doug Shannon. Meanwhile, the two escaped prisoners make another attempt to search the H. O. T. S. house, with Charlie disguised as a door-to-door salesman and Bugs as his cleaning robot, but Ezzetta, the recently arrived, no-nonsense housemother, chases them away as soon as the apparatus malfunctions. Elsewhere on campus, Honey, Teri Lynn and O’Hara trap their biology professor in an elevator and seduce him into giving them a passing grade. Meanwhile, the mascot of neighboring Patterson University, a large friendly bear, is on the loose and wanders unnoticed into the attic of the H. O. T. S. house. Eventually, the H. O. T. S. members recruit a loyal following of men into their club and transform the Pi sorority into a “convent.” Fed up with the ongoing sex-crazed antics of H. O. T. S., Dean Chase makes a surprise visit to the house, but unexpectedly finds himself a victim of their mischief when he is photographed with his pants down. The H. O. T. S. members use the picture to blackmail him into leaving them alone. During a wet T-shirt and dance contest at the local discotheque, Honey and Melody compete for the crowd’s attention. They tie for first place, but their rivalry leads to a wrestling match on the dance floor. As Doug and his friends separate the two women, Honey dares Melody and the Pi sorority to compete against H. O. T. S. in a game of strip football; every time a team scores a touchdown, the opposing side must remove an article of clothing. Prior to the competition, Macho Man, captain of the Fairenville football team, provides coaching tips for the H. O. T. S. ladies, and O’Hara shows promise as quarterback. The night before the game, Melody, and fellow Pi member, Stephanie, attempt to contaminate their rivals’ uniforms with itching powder, but the scheme backfires. As the H. O. T. S. team and their boyfriends depart for the football stadium, Charlie and Bugs use the opportunity to sneak into the house for a third time. When O’Hara returns to retrieve another uniform top, she encounters the two crooks. As she runs to the attic screaming, Charlie and Bugs pursue her, and the three of them become locked in the attic after the doorknob comes off. There, they are shocked to find the bear, but also the stash of money. While Charlie and Bugs stuff money into their pockets, O’Hara climbs up to the roof and commandeers a hot air balloon belonging to Mad Dog, a friend of the H.O.T.S club. Despite her objections, the bumbling villains scramble into the basket with her in an attempt to dodge the bear. However, the curious animal also joins them as O’Hara launches the balloon and navigates it toward the football stadium. Meanwhile, at the game, the Pi team takes an early lead and the H. O. T. S. squad is forced to remove two articles of clothing. When the balloon lands on the field, O’Hara’s teammates are relieved that their starting quarterback has finally arrived to help, Charlie and Bugs are arrested and the Patterson students are thrilled to finally have their mascot back. During the second half, H. O. T. S. evens the score, but their rivals make a third touchdown, forcing Honey and her friends to take off their bikini tops. However, the H. O. T. S. team fights back and is declared the winner after the Pi sorority sisters flee to avoid stripping off their final piece of clothing. Afterwards, the H. O. T. S. girls receive a citation for the hot air balloon mayhem, but also a reward for helping apprehend the two escaped prisoners.