One night at a harbor, a man meets a smuggler and gives him the money along with the artifact inside a box. Suddenly, a pelican flies by snatching the box from the smuggler causing him to lose the money. The man tells him that the cash is counterfeit revealing himself to be a detective. Monterey Jack and Zipper arrive with bags filled with limburger cheese. Fat Cat and his henchman are on a wrecked boat waiting for a package (which contains the key to "world domination") from the pelican who demands to be paid. Because Fat Cat refuses to pay him, he snatches the box from him. Fat Cat throws Wart at the bird making him drop the box in the sea. While eating the cheese, Monterey hears Fat Cat and then sees the box. In the box, he finds a magic lamp and rubs it. Both Monterey and Zipper are amazed to see the genie.
Fat Cat finds out Monterey has the lamp but is too late to grab him after Monterey wishes the Rangers could see it and the genie grants it. Monterey, Zipper, and the lamp are transported to the Rangers' home. Chip, Dale, and Gadget show up and Monterey shows them the lamp with a genie but Chip doesn't believe him. Monterey summons the genie and wishes for lots of cheese. This causes the house to be overloaded with cheese. Dale wants to use the lamp to wish for peanuts, but carried away by his own greed, Monterey wants no one else except him to use the lamp. This upsets Chip, Dale, Gadget, and Zipper as they turn their backs on him. The genie tells Monterey it's been 5,000 years since he's had a day off and gets Monterey to use his third wish to give him the weekend off and he'll get more wishes in return. Unfortunately, this turns out to be a trap as the ex-genie is free while Monterey Jack is the new genie of the lamp. He hopes that if one of the Rangers can rub the lamp, he'll get even with the ex-genie. Just then, Mepps, Wart, and Mole show up and find the lamp. Hearing Wart, Monterey becomes horrified to find out he'll be Fat Cat's slave.
The Rangers are still disappointed with Monterey's selfishness. Suddenly, they spot the ex-genie in front of a carpet store who has recently bought a carpet but wants a refund because it doesn't fly. He moves on brooding about the recent century when he gets tied up by the Rangers. They demand to know what happened to Monterey Jack. Meanwhile, Mepps, Mole, and Wart head back to Fat Cat's lair with the lamp in tow. They fight over who should rub the lamp first until Fat Cat shows up. He takes a rub at the lamp only to find Monterey Jack as the genie. At first, he is appalled at this but after getting his first wish, he is happy to know Monterey has become the genie of the lamp and "[his] slave"! Meanwhile, the ex-genie still refuses to tell the Rangers where the lamp is when they spot a tall golden building which is Fat Cat's second wish, complete with a golden stairway, fountains, and servants. He then has Monterey bring the Rangers to his new modified hideout and wishes they were turned to dust but it doesn't work due to a limit of three wishes. Unfortunately, before they can even snatch the lamp from Fat Cat, he has Mole "wish [the Rangers] to their doom!" which Monterey reluctantly grants.
The Rangers' doom is a pendulum about to slice them. Monterey regrets putting his friends in danger with his greed. Luckily, using Mole's stupidity to his advantage, he tricks them into wishing they were free. This causes the pendulum to break, only cutting the rope holding the Rangers and fly straight for Fat Cat's throne, nearly hitting him. Mepps takes the lamp away from Mole. Fat Cat tells Mepps to wish the Rangers destroyed but Monterey makes him wish for "Ranger toys" causing them come up around the hideout and Gadget uses one on Fat Cat. Monterey has Mepps "wish for fish" which causes a water flood in the hideout. The Rangers, Fat Cat, and his henchman all swim at once for the lamp. Chip and Dale manage to get there first and wish none of this had ever happened which Monterey grants just in time before they get caught by Fat Cat and his goons. This wish restarts back to the very beginning and alternates it with the pelican falling asleep and the smuggler having his money before he's busted. Monterey Jack and Zipper take a moment to enjoy themselves at the harbor at night and then go to get limburger cheese.
- Corey Burton as Dale, Zipper, Mole, Rug Salesman
- Peter Cullen as Monterey Jack, Mepps, Undercover Cop, Policeman
- Jim Cummings as Fat Cat, Wart, Crook, One-Eyed Pelican, Genie
- Tress MacNeille as Chip, Gadget Hackwrench
- Chip 'n Dale Rescue Rangers: Volume 1