Miles Monroe, a jazz musician and owner of the Happy Carrot Health-Food store living in Greenwich Village in Manhattan, NY in 1973, is cryogenically frozen without his consent, and not revived for 200 years. The scientists who revive him are members of an underground movement: 22nd-century America seems to be a police state ruled by a dictator, about to implement a secret plan known as the "Aires Project" (sic). The underground movement hopes to use Miles as a spy to infiltrate the Aires Project, because he is the only member of this society without a known biometric identity.
The authorities catch onto the scientists' project, and arrest them; Miles escapes by disguising himself as a robot. He goes to work as a butler in the house of socialite Luna Schlosser (Diane Keaton). When Luna decides to have her "robot"'s head replaced with something more "aesthetically pleasing," Miles has no choice but to reveal his true identity to her. Luna is shocked, frightened, and threatens to turn Miles in to the authorities. In response, he kidnaps her and goes on the run, searching for the Aires Project.
Miles and Luna start to fall in love, but Miles is captured and forced to undergo brainwashing. He forgets that he comes from 1973, and becomes a complacent member of futuristic society. Meanwhile, Luna finds a group of commando-rebels and joins the underground movement. The rebels kidnap Miles and force him to undergo reverse-brainwashing, whereupon he remembers his past and joins their efforts.
Miles and Luna successfully infiltrate the Aires Project: they learn that the Leader was killed by a rebel bomb ten months previously, and all that survives is his nose. The nose has been kept alive, and the members of the Aires Project, mistaking Miles and Luna for doctors, want them to clone the leader from this single remaining part. Instead, Miles steals the nose and "assassinates" it by squashing it under a steamroller.