This movie came out in the early to mid 80's and was a porky's type film based on some college kids...

I really can only remember one scene...
2 kids play a practical joke on this other guy.. they are in their room on campus and they have a tube of super glue, they cover it over and write peni- grow on it and tell this guy that it's great and I remember the line,
' I can't do without my 10 inches' his mate says 'yeah or my 9' they tell him its really expensive and not to touch it and put it in a sports sock and hide it, they then leave him in the room and he puts it on and you then see him running around outside campus with his hands stuck down his trousers and loads of kids laughing at him.

That's all I can remember... (its not porky's)

I think the front cover of the video had a sports car on it.