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Milton Berle appears as himself while Lucille and Desi will appear in their family TV roles of Lucy and Ricky Ricardo. The setting is the El Rancho Las Vegas Hotel in Las Vegas where Berle is the headliner, Ricky the orchestra leader and Lucy is "in free flight, as usual". The story concerns the efforts of Milton and Lucy to stay one jump ahead of jewel thieves who covet a diamond ring Berle has bought as a peace-offering for his wife Ruth (played by Marian Colby).
Former President Harry Truman, Vice President Richard Nixon chuckles about his first appearance on any program with the former President, Maurice Chevalier charms and sings, Gertrude Berg and Sir Cedric Harwicke sing "I Remember It Well", Marian Anderson's moving spirituals, Jose Iturbi's piano solo, Bob Hope's monologue, plus bits of Eddie Cantor and Jimmy Durante. Many more personalities from Helen Hayes, Sidney Poitier, Henry Fonda, Elizabeth Taylor, Ralph Bellamy, Mary Martin, Joan Crawford make themselves useful at appropriate moments throughout.
Milton Berle hosts, and in a comedy routine, "The Two Berles," Milton shows the way he used to be and what he is today. As "The Insulters", Milton, Peter, Danny and Lana expose TV stars and shows. Lawford and Barbara Heller, satirizes TV gangster shows with "The Untouchables" renamed "The Unbearables" Danny Thomas as Scarface, Milton Berle as Bugsy Monahan, Peter Lawford as Ace the Crime Reporter and Barbara Heller as a nightclub chanteuse. Milton and Danny take a coffee break and reminisce about their careers in show business. Lana sings, "Just Turn Me Loose on Broadway" and "Taking a Chance on Love".
Sammy Glick has all that money can buy, but lacks social position and a wife. To remedy this he woos and wins the beautiful socialite daughter of the banker who has invested heavily in his movie studio.
Sammy Glick starts as a copy boy for a top New York daily newspaper. But the young man is ambitious and sets his goals for the top, which may involve stepping over and on whoever gets in his way.