Stallone's Knockouts(1990)

Big-haired broads work out, box, sing, wax poetic about their deepest desires and are involved in comedy skits with both a horny announcer and a pervy sex predator physician named "Dr. Fondle." Meanwhile, Jackie Stallone further embarrasses her family by rapping (!), the one minority boxer ("Cartella the Smuggler") is booed by the live audience as soon as they find out she's from Colombia and ringside commentator Traci Lords (!!) has to fend off the romantic advancements of the celebrity impersonator referee, who finally wins her over by pretending to be Richard Simmons (?!?)