Grand Canyon (1991)
Davis asks Mack if he has seen this film
One of the phrases that is uttered by the alley urchin is "Beaufort, South Carolina," which was the setting for The Big Chill (1983), also directed by Lawrence Kasdan.
Has a 'flying over L.A. at night and falling down' dream sequence
Mentioned by Xander
Mentioned as one of the answers.
Watched on TV
footage appears throughout
Clip included; editing analysed.