In the year 1957, the world is dramatically changed when the Soviet Union launches a nuclear attack on the United States, making most of the country uninhabitable and plunging it into chaos. Amidst this devastation, the American government collapses, leaving only a few safe havens such as Lost Vegas, a city ruled with an iron fist by King Elvis. Over the years, Lost Vegas becomes a refuge for survivors but also a battleground, as the Red Army besieges it, though their once-military might has diminished into a gang of ruthless thugs due to the lack of supplies.
Decades later, as the story unfolds, the death of King Elvis sparks a new call to arms. Keith Mortimer, a charismatic radio disc jockey, announces a rally for all musicians, urging them to come to Lost Vegas with the hope of crowning a new King of Rock 'n' Roll. His passionate declaration that "Vegas needs a new King!" ignites a movement, and many musicians set out on a perilous journey through the dangerous wasteland to claim the throne.
Amidst this post-apocalyptic landscape, a lone swordsman and guitarist known simply as Buddy embarks on a quest. One day, Buddy, portrayed by a talented actor, rescues an unnamed boy, whom he calls "Kid," from a gang of bandits. The Kid's mother was killed in the attack, so the boy instinctively joins Buddy, much to his initial annoyance. The duo's journey takes them across the barren desert, with Buddy trying to stay focused on their goal. However, they constantly face threats, especially from a menacing entity known as Death, voiced by Lex Lang. Death is determined to eliminate any musician he encounters and seize their guitar picks as trophies, symbolizing his obsession with death and destruction.
Their adventure is fraught with encounters with dangerous foes. After surviving an attack by a group of bounty-hunting bowlers, Buddy and Kid steal a car from a fellow musician to continue their trek. Their dangerous journey continues as they narrowly escape an ambush by bandits, and their car eventually breaks down. In a tense moment, Buddy and the Kid attempt to borrow a wrench from a suburban family, only to discover they are cannibals. Buddy leaves the Kid with the family but manages to escape, leading to a confrontation where Buddy defeats the Windmill People, strange creatures who threatened them. They then continue on an abandoned motorcycle, forging ahead with determination.
Along their path, Buddy and Kid arrive in Fallout, a town caught in chaos. Buddy leaves the Kid with some local residents and heads into a bar to rest. There, they encounter a cheerleader and enjoy some downtime. However, Death arrives uninvited, prompting the Kid to warn Buddy, and they quickly flee. Buddy’s bravery is tested further when he humiliates a young guitarist, only to be attacked and accidentally kill him in self-defense. Overcome with guilt, Buddy lays down his sword and walks away, but the Kid retrieves it, believing in Buddy’s potential and helping him regain his confidence. Their bond deepens as they face more dangers together.
Later, after collapsing in the desert, they are ambushed by Death and his archers. Buddy sacrifices himself to save the Kid, sliding him to safety while battling the archers. When the Kid is captured by underground mutants, Buddy pursues him into a dark lair, determined to save him. Meanwhile, Death chooses not to follow Buddy and instead continues to hunt other musicians, intending to save Buddy for last.
In a dramatic confrontation, Buddy and Death engage in a fierce guitar duel, symbolizing the clash of their styles—Buddy's Rock 'n' Roll against Death’s Heavy Metal. When Buddy demonstrates he is the superior guitarist, Death becomes enraged and orders his bandmates to shoot both Buddy and the Kid. Buddy shelters the Kid with his body, taking the arrows himself, and then fights Death with a sword. Although ultimately mortally wounded, Buddy's spirit endures when the Kid discovers that water is Death’s weakness. Using his water canteen, the Kid melts Death away, ending his reign of terror.
With Death defeated, his bandmates are stunned and impressed by the Kid’s victory. They leave him with a card, promising to help whenever he needs, and depart. Grieving yet resolute, the Kid decides to complete Buddy’s mission. He dons Buddy’s clothes, takes up his sword and guitar, and heads toward Lost Vegas. The story concludes with the Kid approaching the city, embodying Buddy’s spirit. As the crowd cheers him on from Lost Vegas, he transforms into Buddy, symbolizing that the torch has been passed and that the legacy of music and resilience continues through him.