After the Cold War, a breakaway Russian republic with nuclear warheads becomes a possible worldwide threat. U.S. submarine Capt. Frank Ramsey signs on a relatively green but highly recommended Lt. Cmdr. Ron Hunter to the USS Alabama, which may be the only ship able to stop a possible Armageddon. When Ramsey insists that the Alabama must act aggressively, Hunter, fearing they will start rather than stop a disaster, leads a potential mutiny to stop him.

Chili Palmer is a Miami mobster who gets sent to L.A. to collect a bad debt from Harry Zimm, a Hollywood producer who specializes in cheesy horror films. When Chili meets Harry's leading lady, the romantic sparks fly. After pitching his own life story as a movie idea, Chili learns that being a mobster and being a Hollywood producer really aren't all that different.