The members of the Lambda Lambda Lambda fraternity travel to Fort Lauderdale for a fraternity conference. They'll have to beat off the attacks of their rival frat, the Alphas, if they want to maintain their self-respect -- and, of course, if they want to get anywhere with the pretty girls!
Dutch and his group of commandos are hired by the CIA to rescue downed airmen from guerillas in a Central American jungle. The mission goes well but as they return they find that something is hunting them. Nearly invisible, it blends in with the forest, taking trophies from the bodies of its victims as it goes along. Occasionally seeing through its eyes, the audience sees it is an intelligent alien hunter, hunting them for sport, killing them off one at a time.