Thanks to @tommix for this recommendation in which he described as a Terminator rip-off of sorts. Sure, they both came out the same year, but they have some definite similarities. Both movies start in dystopian futures in which a man is sent back to protect the ancestor(s) of important future figures. Both sent back to mid-80s Los Angeles!

Trancers has some cool sci-fi stuff, laser guns, a fight with a possessed Santa, a time-stopping watch, hoboes, and more. I haven't seen a lot of Charles Band movies that I'd say were "great", but this one is pretty cool.

I'm glad to see there are plenty of sequels!