Pinky and one of the Howl's Angels members compete in a one-on-one bike race to win a chance to be sponsored by said bike shop. Finko conspires to ensure Pinky loses.
The Rainbow Panthers are renovating their clubhouse. After the first sleepover, the clubhouse has been taken by the Howl Angels. Meanwhile Panky gets abducted by aliens replaced by a robotic duplicate.
When a false Santa Claus breaks into the house, only Panky believes he is the real deal. After he's been send to jail, the gang finds out it was the real Santa Claus.