Lucy tells Hedda Hopper her story of the cruise that she met Ricky on, as well as her encounter with Rudy Vallee.
After learning that celebrity Tallulah Bankhead is moving in next door, Lucy devises a plan to get her to take part in her PTA show. With the Mertzes acting as hired help, Lucy hosts a dinner party, but everything goes wrong. To Lucy's surprise, Tallulah decides to star in the play, with Lucy and Ricky as co-stars, but incident after incident results in Lucy and Tallulah arguing, and finally, Lucy attempts to upstage Tallulah in the play, with hilarious results.
In order to get-rich quick, Lucy and the Mertzes, as well as Fred McMurray, search for uranium in Las Vegas.
Wanting to win a horse for Little Ricky, Lucy enters her, and many of her friends, into a contest to win one free. This, however, becomes a problem when the horse becomes attached to Lucy, so she seeks the help of Betty Grable to get the horse off her hands.
When Ricky takes Lucy, Fred, Ethel and Little Ricky to Sun Valley, everyone is excited, until Lucy learns that Fred, Ricky and Little Ricky are going to be on TV that week, without the girls. To make Ricky jealous, Lucy begins skiing and spending time with Fernando Lamas. While it all starts out harmless, friction occurs when Lamas gets a little closer to Lucy than Ricky can handle.
While Ricky is performing with Maurice Chevalier, Lucy, Fred and Ethel cause trouble in Tijuana by inadvertently bringing a Mexican boy, Alfredo, past the boarder, and therefore getting arrested. When Ricky and Maurice try to bail them out, more trouble stirs, with Maurice unable to re-enter the States, due to his French citizenship!
Lucy and Ricky go to Hollywood for Ricky's movie, and rent out their Connecticut home to a family, the Williams (of Make Room for Daddy fame). After the movie is postponed, the Ricardos wind up staying with Fred and Ethel, but a suspicious Lucy finds herself constantly dropping in on the Williams.
The crew go to Alaska for Ricky's show with Red Skelton, celebrating Alaska's entry to the union. Ricky and Fred are happy to go see some land they bought, which turns out to be empty frozen Alaskan land, causing the two to become angry with each other. Despite Ricky's sour mood, Lucy still attempts to get in the show, but to no avail, until Lucy and Red Skelton become friends! In an attempt to restore Fred and Ricky's friendship, Lucy drives Red Skelton out to the land they bought, attempting to get him to buy it out. However, a problem occurs when a blizzard strikes, and the two can't find their way back to the studio, with an hour left before the shows to start.
Lucy's efforts to get in the show works this time, when she winds up as the "Girl Friday" in the Paul Douglas Early Bird TV series. While Douglas dislikes her, the shows sponsor adores her housewife ways, and immediately hires her. However, Lucy begins to miss Ricky and her son, as well as the Mertzes, and asks to leave her contract. Douglas agrees, so Lucy takes a sleeping pill to prevent her from waking up at her normal 4AM time. However, unbeknownst to Lucy, the sponsor did not approve Lucy's early dismissal, and now Ricky and Paul must struggle to get her out of her deep sleep to do the next show...
Lucy and Ricky's friend loans them a vacation in a cozy Vermont cabin, but unbeknownst to the Ricardos, he also loaned it to the couple, Ida Lupino and Howard Duff! Neither couple wanting to give up the cabin decide to room together. Upset that Ricky and Howard spend all their days fishing and ignoring the girls, Lucy and Ida devise a plan to saw a hole into Ricky's boat, however, the two later realize that their husbands had planned a romantic night at sea, and therefore had inadvertently ruined their own evening!
Lucy wants Milton Berle to partake in Little Ricky's PTA benefit show, despite Ricky's insistence that she not bother him about it. Lucy asks him anyway, and he agrees, but only if he can use Lucy's Connecticut home as a place of peace so he can write his book. When Ricky finds out from Fred that "some man" has been sneaking around the Ricardos home, Ricky gets on high defense, and prepares to attack Milton, dressed as "Mildred". Ricky sees through it all, and causes a strained relationship between Berle and the Ricardos. Lucy's attempt to patch things up would, however only lead to more disaster...
The Ricardos and the Mertzes wind up in a jam in Japan when Lucy has TV-star Bob Cummings buy her real pearls to replace her artificial ones. After Lucy gets the pearls, she tries to borrow the money from the Mertzes to pay for it, but to no avail. Lucy, in a rut, returns the pearls to Mr. Cummings, but accidentally gives him the fake ones...
Lucy tries to cheer a depressed Ricky up when he can't seem to find a place in show biz anymore, so she invites television couple Ernie Kovacs and Edie Adams over, in hopes of getting Ricky into the show. Things do not go as planned, and as it turns out, they want Little Ricky in the show instead! Lucy's attempt to get Ricky in the show prove flawed, when Edie and Ernie decide to play a little joke of their own on Lucy...
In a Milton Berle special, Lucy and Ricky meet up with Milton again at a casino, where they become targets of mobsters after Lucy gets an expensive ring stuck to her finger. How will Lucy get herself out of this one?