The entire band of <a href="http://www.musicsoundoff.com/artists/aerosmith/">Aerosmith</a> has a great cameo in Wayne's World 2. First the boys attend their concert. Then they play at Waynestock as seen in this screenshot.
Wayne and Garth do a <a href="http://www.reelmovienews.com/movies/thelma--louise/">Thelma & Louise</a> ending as one of the alternate endings in Wayne's World 2.
Wayne Crashes Cassandra and Bobby's wedding in this scene that parodies the famous ending to <a href="http://www.reelmovienews.com/movies/the-graduate/">The Graduate</a>.
Wayne: [enters gas station] Where's the First Presbyterian Church on Gordon Street? Bad Actor: Uh... Wayne: Gordon Street, Gordon Street! Bad Actor: Uh, Gordon Street! Oh yeah, Gordon Street! Uh, I once knew a girl who lived on Gordon Street. But that was a long time ago. When I was young. Wayne: [looks at camera] Do we have to put up with this? I mean, can't we get a better actor? I know it's a small part, but I think we can do better than this. [person from set crew comes in and replaces actor with another one] Good Actor: Gordon Street? Ah, yes, Gordon Street. I once knew a girl who lived on Gordon Street. Long time ago, when I was a young man. Not a day passes I don't think her and the promise that I made which I will always keep. That one perfect day on Gordon Street. That's uh, five blocks up, two over. Wayne: [choking back tears] Thank you. [jumps in car and drives away]