If the crew wanted to feature a genuinely bad film, they could not do better than this one. It's every bit as bad as The Shadow and Mario and Luigi. But, if they wanted to feature a film more in the vein of Con Air -- a bad film made unforgettable by the batshit crazy plot and the 100% commitment of the cast to the insanity -- they could not do better than Escape from New York.
Escape from LA has already been suggested, and that's a definite bad movie, no doubt. But if you want a show that's more in the vein of, say, Con Air or Face/Off, then Escape from New York is a good choice: a fun, bad, batshit movie where everyone in the cast is all in. "Snake Pliskin -- I thought you were dead."