American Angels: Baptism of Blood (1988)

Lisa has a grandfather called Killer Kane, who stopped Wrestling after he killed someone while performing "the snap". Her only wish is to become a wrestler herself. To achieve this, she joins the American Angels, a female wrestling show. Because training hard isn't enough, she seduces the show manager Donald to get a fight against Magnificent Mimi, the champion. But as Donald and Mimi are a couple, Mimi is just waiting for a chance to punish Lisa...