From CHiPs Online:
After Ponch tries to get Dodgers tickets, they find Brian on a skateboard carrying a surfboard. He's almost run down by a speeder. Ponch lectures him and lets him ride off in a station wagon.
After the theme, Jon pulls over the speeder (Mr. Billings) and gives him a lecture for shaving while speeding. After Mr. Billings is allowed to go, the station wagon speeds around a corner and Ponch and Jon chase it. It turns out that kids are driving it and can't stop. Ponch gets them to stop by turning off the ignition. After the kids' parents pick them up, it's briefing time.
Out on the streets, Ponch and Jon find a man who refuses to let a tow truck driver tow his car...so he burns it. Ponch buys it (using some of Jon's money) for $83. As Jon steps into the street, he's almost killed as Billings speeds by. Jon chases him and pulls him over. Jon arrests him for drunk driving.
Later, Ponch and Jon catch the kids fooling around and save the girl with the cast when the shopping cart she's in rolls away. After visiting Central, Ponch and Jon get pinned down by a toy plane.
The next day, after the briefing, our heroes encounter those meddling kids again. They accidentally knock over a lady's groceries and the owner of the store gets upset with them. Ponch gets an idea to keep them out of trouble. They have Sindy pick the kids up and go to a skateboard park. Ponch and Jon show up in Jon's truck to show the kids "how it's done."
The next day is the "last day of neighborhood watch." Billings is speeding again...while drinking. After he hits someone at about 35 mph, he abandons his car and runs home. Ponch and Jon respond to the hit-and-run call. While Ponch tends to the injured jogger, Jon goes to find Billings. Jon knows that Billings is trying to get home to report his car stolen. Jon has to beat him there...and he does. When Billings sees him, he runs. Jon arrests him when he gets to a cliff and can't run anymore.
At the end of the day, Ponch and Jon relax with the kids at the skateboard park.