In front of Baywatch headquarters, Mitch and the other lifeguards watch as a group of skydivers perform some spectacular stunts. When they land, Mitch recognizes and greets Ben, a military buddy. Mitch then sees Tracy McCabe, his commander’s daughter. Ben explains that she and her father have been at odds since she joined the military.
Meanwhile, on the ocean floor, champion diver Meghan is filming a commercial. The cast and crew around her are amazed at her ability to hold her breath. Cody, the lifeguard on duty, is struck not only by her ability, but her beauty. On the surface, Jared, the director and ex-boyfriend, sees Cody and Mehgan getting cozy. He tells Mehgan to get into his boat, but she rebuffs him. Cody and Mehgan drive off, leaving Jared to stew.
Out on the ocean, J.D. and Jessie are hunting for abalone. While down, Jessie is startled by a moray eel and crashes into the wall of a small cave, sending rocks down all around and trapping her. She only has 13 minutes of air left in her tank. J.D. surfaces and calls for help.
Cody and Mehgan are getting to know each other. Mehgan’s dream is to set the woman’s record for free diving. They are interrupted by J.D.’s call for help and rush to the site. J.D. and Cody don SCUBA equipment and jump in. Mehgan watches them go and then follows on her own. She prepares for the free diving descent. Once at the site, she realizes that the opening to where Jessie is trapped is so narrow, neither J.D. nor Cody can fit through with their tanks strapped to them. Mehgan slips easily into the cave and gives Jessie the pony bottle of spare air so she can leave behind her SCUBA gear and get out safely. The four of them make their way to the surface, where Mehgan passes out from the strain.
Back at headquarters, Jessie convinces Tracy to take her skydiving and Commander McCabe himself shows up. He tells Mitch that he is supposed to be receiving a medal, but it would be much more meaningful to him if he had a better relationship with his daughter instead.
Tracy, Ben, Jessie and Mitch go skydiving. They receive a call that a boat has crashed in a remote area. Mitch decides to skydive with them. He does and manages to make the rescue.
Later, Mitch tells Tracy her father saved his life. He was busy doing good things for his country and that’s why he wasn’t around when she was young. Tracey still refuses to soften her stance towards her father.
Meanwhile, Jared has entered the free diving competition to show up Mehgan. On the day of the competition, Jared goes first. He dives to 170 feet, but blacks out on the way up and has to be rescued. Next up is Mehgan. She dives, gets the flag, and makes it to the surface where the crowd is wildly cheering her success.
Finally, Commander McCabe is surprised and delighted when his daughter appears and gives him his medal – forgiving him for the past and giving the two of them a future.
