The year is 1976. On May 17th in Point Place, Wisconsin, Eric Forman, Michael Kelso, Steven Hyde, and Donna Pinciotti are all sitting in the basement, listening to the Forman's party upstairs. Hyde, Kelso, and Donna are persuading Eric to go upstairs and grab beers for them. While he objects to the idea, he wants to please his friends. After constant arguing about why Eric has to go, he rushes upstairs to find beer. Before leaving, Donna warns Eric not to look at her father's hair. After coming upstairs, Eric runs into his mother Kitty Forman, who is carrying hot pizza roles and encouraging everyone to move. After stealing beer, he has a brief talk with his dad Red Forman, Eric reluctantly gets 2 more beers from his mother to put down in the basement fridge. Eric runs into Donna's parents, Midge Pinciotti and Bob Pinciotti, who are talking to him about Bob's new perm, but all Eric is thinking about is Midge's breasts. Eric runs back downstairs with the beer and is congratulated on doing so. Donna also reveals that she thinks Eric is handsome after Kelso accidentally says that she told him. Eric also tells the gang that his dad is thinking of giving him the 1969 Oldsmobile Vista Cruiser.
After the theme song is played, the gang is watching the Brady Bunch. Donna and Eric are quoting the show without the sound on. Jackie thinks that it is stupid to watch a show but not hear the sound, so Eric tells her to put in the headphones. While Jackie is distracted, Kelso talks about taking the Vista Cruiser to the Todd Rundgren concert in Milwaukee. Jackie wasn't supposed to know about the concert because the gang finds her annoying and bitchy. Jackie gets mad at Kelso for not telling her about this, but soon after, Kelso invites her.
Afterwards, Eric is seen telling the Cruiser that he wants it bad. Donna and Kelso are outside as well. Bob comes from next door fixing his hair and telling the kids that this is the most fun that they're ever going to have. The kids are scared by this because they are unsure what Bob is capable of if they do something wrong or if they're lives are ever going to get more interesting.
Soon after, the gang is at "The Hub" a local cowboy bar where teenagers hang out. This is the first time that Fez is introduced. Fez is new to the country and is wondering if he is correct when he says one of the waitresses has nice breasts. Jackie has no idea who Fez is and she doesn't know why he hangs out with them. The ironic thing is the gang isn't sure why Jackie hangs out with them. Jackie wants to go to the ladies' restroom and requests Donna to go with her. Fez wants to go the the men's restroom and requests Eric to go with him, but he denies.
The boys then go back to Eric's house and then they get into The "Circle", where they all sit down and smoke pot in the basement. Hyde explains that there is a guy who made a car that runs on water. They are also explaining how the Cruiser is a boat and needs lots of gas. Fez thinks that someone is getting a boat and not talking about a car.
Eric, Red, and Kitty are all talking about how about the Vista Cruiser and how it is a responsibility and a privilege. However, Eric is high the entire time. The wall behind Red and Kitty is moving and Eric isn't paying too much attention. Red also mentions that Eric can't take the car out of town. After a long talk, Red hands the keys to the Vista Cruiser to Eric. Eric then uses it to go to the concert after Red told him no trips out of town. Soon, sometime later, Donna and Kelso are fighting over who gets to sit in the front seat on the way to the concert. Eric tricks Kelso and wants Donna to sit in the front. As Donna, Eric, and Kelso leave, Kitty wonders where they are going. Red suggests that they are going out of town because he told them not to. Since the parents have the whole house to themselves, they decided to rush upstairs to have sex.
On the way to the concert, the gang stops at a gas station only to find that the battery died. The mechanic tells the gang that it's either $32 for a new battery, or 2 concert tickets. The gang decides to kick Jackie out first, then Kelso. Eric, Donna, Fez, Hyde, the mechanic and his boyfriend go to the concert. The mechanic wants to go to the bathroom and requests his boyfriend Kevin to come with him. Fez doesn't understand the concept of someone being gay and has Eric explain to him later. While the concert is going on, Jackie and Kelso are making out in the backseat of Eric's car.
After the concert, Eric and Donna were laying on the hood of the Vista Cruiser. Eric tells Donna that she was the reason that he drove the car out of town. It's late and Donna says she has to leave. After a brief moment of leaving, Donna comes back and explains to Eric that she had a great time. She lightly kisses him to Eric's surprise. He says that he wasn't ready and if he was, he would've done something with his lips. Donna suggests they try that next time implying that she eventually may kiss him again. She leaves and Eric is seen lying on the hood of the car, smiling.