Mr. Slate orders Fred and Barney to assemble his new Aerosubmabus to enter in the Great Bedrock Air Race. The two friends compete against Shmoo, Atrocia and Frank Frankenstone, Captain Caveman and a few local villains in a daring and hazardous race. Even though the Aerosubmabus is demolished, Fred and Barney win the race and the 10,000 clams. Unfortunately, Mr. Slate demands the prize to pay for the damage that Fred and Barney inflicted on his racing machine.