Barbi along with her brother Ned (Jake Van Wagoner), and her boyfriend Rico (Douglas Spain) steal two large bags of coins from the Salvation Army during Christmas. They get away using an Ice Cream truck, and plan to head south toward Acapulco. However, they accidentally head north on the freeway, and don’t notice until 3 hours later, getting stuck in a snowstorm. While listening to the radio, they discover that they were seen by someone, and the authorities are now looking for the thieves driving an ice cream truck. They have been dubbed the “Ice Cream Truck Bandits”.
Rico suggests they get off the road until after dark. They exit off the freeway and end up at a school, where most of the kids have already been picked up by their parents for the Christmas Break. However, one girl named Izzy (Cameron Seely) has been accidentally forgotten at school, and has made herself comfortable there alone.
Their first task is to break into the school, which Barbi does by plying a window open in one of the classrooms. Meanwhile, the janitor named Ray (Danny Glover) hears from Izzy’s parents that they forgot her. He heads back to the school while the parents crash their car in a snow bank.
Ray gets captured by the bandits and is tied up to a chair. Izzy discovers the bandits and decides to try to free Ray.
Barbi gets hungry, so she and Rico go exploring through the school, and also lock the money up in a janitors closet. When the return the try to scare Ray into thinking that they will eliminate him. Ned gets concerned with this type of talk, and begins to rethink being apart of this heist.
Izzy begins by shutting off the power, and the bandits think it is caused by the storm outside, not knowing that Izzy is inside the school. Ray begins to scare the bandits by telling them that the school is haunted, and that fifty years ago, it was a prison. The inmates still walk the halls at night seeking revenge.
Next, Izzy uses a freaky recording to lure Rico out to investigate. Izzy puts on a mask and knocks him out, taking care of the first bad guy. She then transports the bags of coins from the closet to a secure position.
When Rico does not return, Barbi goes to investigate. This leaves Ned to be further talked out of a life of crime by Ray.
Izzy lights a fire in the janitor closet, and when Barbi thinks it is her money burning goes to investigate. Izzy is able to lock the door with Barbi inside. Now that Barbi knows it is a little girl causing havoc, she calls Rico on his cell phone, which wakes him up. Rico is able to unlock the janitors closet and free Barbi. She emerges with dishouveled hair. She sends Rico to go check on Ned, while she goes to capture the girl, and “end this nightmare”.
While walking down a hallway, Barbi walks into a trip wire, which causes a tennis ball machine to start firing tennis balls at her.
Rico catches Ned attempting to release Ray, and he gets tied up as well. In the meantime, Barbi gets on the intercom and begins to taunt Izzy. She tells her if she wants her friend (Ray) back in one piece, then she better give her the money back.
When Barbi returned and found out that her brother Ned had betrayed her, she reminded him that he has always been a disappointment. She told him that he no longer would be her brother.
Izzy turns herself in, and proceeds to take Barbi down the hallway to take her to the bags of coins. When Izzy asks her if she feels bad for stealing money from the poor, Barbi tells her that when she sees something she wants, she takes it. Izzy asks her “didn’t your parents teach you anything?”. To this, Barbi responded, “I never had much use for parents”.
Ned is able to break free from his bindings and turn the table on Rico, who he ties up and then frees Ray. In the meantime, Izzy leads Barbi to what she thinks will be the money. However, when Barbi demands the money, Izzy reveals Ray’s pet dog, who growls and keeps her at bay, while Izzy leaves. Barbi eventually bribes the dog with cookies she had in her pocket and is able to escape.
Izzy’s parents (Denise Richards and Sean O’Bryan) arrive with the help of a mail express driver named Chris (James Robert Miller). When they enter the school, they see Barbi pulling two large santa sacks down the hall. When they ask her if they know where their daughter is, Barbi scolds them and walks on. Barbi makes her way out the building and drags the sacks toward the ice cream truck. However, Chris the mail express driver notices Barbi and connects the truck with the police bulletin on the Ice Cream Truck Bandits. He uses his mail express van to crash into the Ice Cream Truck and foil her getaway.
While Chris is calling the police, Barbi makes her getaway out the back of the ice cream truck. However, she is knocked over and out by a boy on a snowboard. She is then seen being taken into custody in the back of a police car along with Rico.