My sister is trying to find out the name of a movie that I would have taped in college some time between 1993 - 1997. She said a gypsyish mother is traveling with her twin sons when an evil king captures them. He separates the twins and raises them as Gladiators. When they're old enough to fight, he threatens to have the fight to the death unless the mother will go get a huge red ruby from a dragon. She through that the lady was cutting her way out of the dragon... but I guess the tape ran out and we never got to see the end. Any ideas?
I've already tried key word searches: dragon, red ruby, 1980's, 1990's, fantasy, mother, twins, evil king and haven't found what she's looking for.

This is probably a long shot, but it sounds similar.

The Barbarians (1987)

http://www.imdb.com/title/tt0092615/plotsummary

"The young orphans Kutchek and Gore have been adopted by a tribe of clowns, jugglers, and entertainers. The tribe is led by the queen Canary and its wealth stems from her magical belly stone. The evil ruler Kadar desires Canary and her stone, and attacks her clan's caravan to gain possession of them. Before the clan's defeat one of the clansmen sneak away to hide the stone. Canary is locked up in Kadar's harem, Kutchek and Gore in his quarry to be trained as gladiators, and the rest of the clan is to live as outlaws in the woods. When Kutchek and Gore have grown up to VERY big gladiators, they run away and break into Kadar's harem with the aid of the young woman Lemone. Canary quests them to find "The Old King's Weapons" and with these kill the dragon that guards the hidden belly stone. Afterwards they should find a new queen and give her the stone, to restore the tribe to its former glory"