I'm not exactly sure when it was made but it's a cartoon movie...

Kay so its like set in the future I think but its very like dark evil stuff...

I know there's a chick wit huge tits who shows them off and her father is the king. There's a lot of death in the movie, and I think I could be wrong but like a ring where they fight and stuff...

SOUTH PARK had mention of it and it was ecen kennys dream while he was high that he was a part of the film... can anybody help me out?

Heavy Metal?

Yeah, it sounds like Heavy Metal.