Amy Mayfield (JENNIFER MORRISON) is a film student who's having a problem coming up with the story for her final project. After meeting campus security guard Reese (LORETTA DEVINE) who tells her she'd make a film about urban legends, Amy decides to do just that, impressing her instructor, Professor Solomon (HART BOCHNER), with her idea.
Competing against several other students, including Travis (MATTHEW DAVIS), Toby (ANSON MOUNT) and Graham (JOSEPH LAWRENCE), for the prestigious Hitchcock award that all but ensures a future in Hollywood, Amy begins shooting her film, but her help isn't exactly stellar. Her main actress, Sandra (JESSICA CAUFFIEL), isn't any good, while her props and special effects men, Stan (ANTHONY ANDERSON) and Dirk (MICHAEL BACALL), are the epitome of film geeks.
When Toby quits as her cinematographer, Travis finds a replacement cameraman, Simon (MARCO HOFSCHNEIDER), for her, while her boom operator, Vanessa (EVA MENDES), seems just as interested in women as she does film. Then there's Kevin (DEREK AASLAND), the reserved production assistant whose applications to the film school have been repeatedly turned down.
As Amy starts her shoot, various members of her cast and crew meet untimely demises, although no one, including Reese, believes her theory that a serial murderer is at large. When Travis' twin brother, Trevor (MATTHEW DAVIS), finally arrives and backs up her beliefs, the two of them set out to discover the killer's identity before he strikes again.