After many hilarious shenanigans, Frank (Leslie Nielsen) realizes the bomb is hidden inside the Best Picture Award envelope, and struggles with Olympia Dukakis and James Earl Jones (themselves, of course) to prevent its opening. Then, Rocco (Fred Ward) comes over and tries to carry out the plan, but in yet another struggle with Frank, in which they climb to the top of the stage, Rocco falls off and Frank ties his feet to a rope, so he doesn't get killed; Rocco pulls the bomb off the envelope, as it was being transported to safety by the Bomb Squad, and the rope makes him ricochet and be shot off the theatre, and ends up crashing into the toilet of the helicopter of terrorist Papshmir (Raye Birk), who was the sponsor of the sabotage. The helicopter explodes, and everyone at the Oscars is saved. Once again, Frank and Jane (Priscilla Presley) -who also gets to quote the famous Sally Field line: "You like me! You REEEEALLY like me!!- embrace and kiss.
Then, nine months later, Frank and Nordberg (O.J. Simpson) rush to the hospital, to the birth of Frank's child, but inadvertently wind up in another delivery room, where an African-American woman is giving birth to a black baby boy. As the baby is born, Frank films him, and then chases Nordberg furiously, whilst Ed (George Kennedy) pulls Jane out of a delivery room, as she holds THEIR own newborn boy.
Thanks Dr Mat!