How bad is it? Not nearly as good/bad as the title suggests.
Should you see it? You can skip this one.
This has a delightfully tacky premise: college cheerleaders desperate to get into Brown learn martial arts from a guy who owns a strip club and has problems with the mob. The three lead actresses are all quite attractive, but none are seen without clothes, which just might be a first for this kind of film (there are brief shots of topless strippers used to punctuate scenes in an odd way). The fight scenes are not good - editing was used to keep the stars from having to actually do anything. The only draw for this film is the male cast members: George Takei, Michael Pare', Eric Stonestreet. The film is knowingly tongue-in-cheek, rather than an attempt to make a serious film, perhaps a low-rent version of "Buffy the Vampire Slayer."