It is called Furious. It was made in 1984. Here's how the Scarecrow website describes it:
A warrior and his former master team up to fight aliens who have been turning people into animals and serving them in restaurants. Maybe. Why do the evil henchmen play in a Devo-like new wave band in the basement of their headquarters? We don't know. Did that wizard just magically shoot a chicken at someone? Oh My God, YES HE DID. Sometimes you find a film so crazy and filled with such wild energy that you just HAVE to share it with people. Furious is without a doubt one of the greatest no-budget unearthed treasures we've ever encountered. So rare, in fact, that the copy we're screening is a loaner; Furious isn't even in our collection (yet). It's proof that a rare alchemy of enthusiasm, overreaching ambition, and creativity can overcome any budgetary limitation. The 70 minutes you'll spend watching Furious will change your life. Director Tim Everitt in attendance for the Saturday show.
Furious screens at 8 pm Friday and Saturday at Scarecrow Video. Admission is free, and the event is for those 21 and over, as beer will be for sale. Here's the trailer Scarecrow made: