Jonathan "The Duke" Mardukas, played by Charles Grodin, is an accountant who has committed a daring embezzlement of $15 million from the feared Vegas gangster, Jimmy Serrano (portrayed by Dennis Farina). After skipping bail, he finds himself hiding out in New York City, but his situation grows precarious when his Los Angeles bail bondsman, Eddie Moscone (Joe Pantoliano), hires bounty hunter Jack Walsh, brought to life by Robert De Niro, to bring him back. To secure the $100,000 bounty, Jack must get The Duke back to L.A. before midnight on Friday; failing that, Eddie will lose his $450,000 bail and face disastrous financial consequences.
The case quickly escalates as the FBI, led by the determined Special Agent Alonzo Mosely (Yaphet Kotto), also desires Mardukas in custody to build a case against Serrano. Alonzo sternly cautions Jack to stay out of his way, but Jack cleverly disregards the warning and snatches Mosely's identification. Meanwhile, Serrano grows increasingly suspicious that Mardukas possesses critical financial information that could implicate him and expose his connections to other criminals, putting The Duke’s life in imminent danger as Serrano plots to have him silenced before he can take the witness stand.
After Jack successfully locates Mardukas in Manhattan, their plans for a swift flight to L.A. hit a snag when Mardukas reveals his irrational fear of flying. This leads them to being ejected from their plane, kicking off a chaotic cross-country adventure filled with unexpected twists, including a moment where Mardukas even pilots a plane, revealing his fear was nothing but a facade. As they scramble through various unreliable modes of transport, they must not only evade the FBI but also backstabbers in Serrano's crew, such as Tony and Joey.
In addition to the turmoil, Moscone hires the competition, rival bounty hunter Marvin Dorfler (John Ashton), as insurance in case Jack fails. Their journey is peppered with bickering and tension, particularly stemming from Walsh's gruff demeanor and Mardukas’ incessant nagging. As they navigate the chaos, Mardukas begins to glimpse the truth about Jack; a former Chicago undercover detective who fell from grace after refusing to turn corrupt and instead was framed for heroin possession by his own colleagues, leading to the deterioration of his family life. Jack's quest for closure, driven by his shattered faith in the law and a longing to retire as a bounty hunter, leads him to aim for the bounty as a fresh start to open a coffee shop.
As their odyssey progresses to Arizona, they find themselves engulfed in a wild police chase, during which Mardukas gets nabbed by Dorfler. Once staged deception leads to revelation, Dorfler is exposed to the reality of Mardukas' worth and decides to hand him over to Serrano’s thugs for a hefty ransom. However, the tide turns when Walsh learns that Dorfler has betrayed his duty, and Mardukas has fallen into Serrano’s hands.
Amidst chaotic developments, Walsh finds and confronts Mosely, unleashing his ire over the mess caused by Dorfler. A moment of realization dawns on him when Moscone hints that Dorfler has maneuvered Mardukas straight into Serrano's clutches. Walsh forms a desperate counter-plan involving a false handover of vital evidence that threatens Serrano’s empire, intercepting the FBI's attention to catch the gangster red-handed.
In a gripping showdown at McCarran International Airport, the tension builds as Jack and Serrano stand face-to-face, with the FBI poised to strike at any moment. Despite a series of interruptions, Jack manages to convey the essential message that the disks Serrano has are pivotal evidence, triggering law enforcement to spring into action and secure several arrests.
With Serrano's gang apprehended, Walsh finally retrieves Mardukas. Flying him back to Los Angeles, Walsh surprises Eddie Moscone by nonchalantly informing him he has delivered The Duke just in time—but chooses to let him go. Their farewells are marked by a poignant exchange of gifts: Jack hands The Duke his broken watch, while Mardukas presents Jack with a cleverly concealed money belt packed with $300,000. Both men part as unexpected allies, their paths diverging but their fates forever intertwined, while Jack contemplates his next move as he prepares to embrace life anew, unbothered by the chaos that unfolded.
