There was every intention to make Loaded Weapon 2. A deal had been set in place before this movie had gone into production and a poster had even been printed with the caption "Oh come ON, you knew it was coming!" However when the movie underperformed the deal was severed.
Film debut of Denise Richards. She plays one of Denis Leary's four girlfriends in the scene where he's playing the piano. Charlie Sheen, who had a cameo as the valet attendant as a favor to his brother Emilio Estevez, would marry Richards about ten years after this film was made and they would divorce soon after.
Jon Lovitz and Phil Hartman, who have a cameo in the film as the Comic Policeman, were both regulars on Saturday Night Live (1975). Lovitz had left the show a year before production and Hartman left the show the next year.
During the war of words between General Mortars (William Shatner) and McCracken (Denis Leary), McCracken tries to win the argument with the line "Life is very short and there is no time for fussin' and fightin', my friend!" a line from The Beatles song "We Can Work It Out".
This was originally intended to be a film based on the Sledge Hammer! (1986) TV series, as the show's creator, Alan Spencer, had a deal with New Line to produce a film for them. However, Spencer hated all of the scripts that were handed to him (since they did not meet the show's plot or tone) and severed ties shortly after.
There are several references to commercials in the film. The Head & Shoulders shampoo joke, "It's tingling", Lance Kinsey's foot on fire "Athlete's foot", and the obvious Girl Scout Cookies references.
In the scene where the drug deal is taking place between William Shatner and his potential buyers, the lead dealer tells his assistant to use the "Vista" Credit card you get frequent flyer miles" this was an in joke to the actual Visa/Mastercard which was actually offering this rewards program as an incentive for people to charge their purchases on their credit cards at the time.