Wonder Wheel ens situa a Coney Island als anys 50. La Ginny i el Humpty, són un matrimoni en crisi. A més, tot s'agreuja quan apareix la filla d'ell que està fugint d'un grup de mafiosos que la volen assassinar.

Set ten years after the events at the Paris Opera House, the Phantom has fled to New York, where he lives amongst the joyrides and freak shows of Coney Island. He has finally found a place for his music to soar, all that is missing is his love Christine Daaé. In a bid to win back her love, the Phantom lures Christine, her husband Raoul, and their young son Gustave from Manhattan, to the glittering and glorious world of Coney Island... they have no idea what lies in store for them...

Hooker and Gondorf pull a con on Macalinski, an especially nasty mob boss with the help of Veronica, a new grifter. They convince this new victim that Hooker is a somewhat dull boxer who is tired of taking dives for Gondorf. There is a ringer. Lonigan, their victim from the first movie, is setting them up to take the fall.

An elderly man is determined to reopen the Coney Island boardwalk hot dog stand he closed twenty-two years earlier for renovation, despite the fact he's recovering from a severe heart attack and it's the middle of February.

Durant la Segona Guerra Mundial, un grup de tres amics és a punt d'anar a la Universitat. No obstant això, un d'ells s'allista a l'exèrcit i es dirigeix ​​a files. Mentrestant, els altres dos ingressen a la Universitat, on hauran de passar dures proves per ingressar a una germandat estudiantil. Un s'enamorarà d'una noia intel·ligent i rebel.

Catherine and Mack and their close friends Chris and Madge graduate from a West Coast college and fly to New York City to find work.