Lucas, a diamond trader who travels to Saint Petersburg to arrange a sale, discovers that his Russian business partner has left his hotel and gone to a small Siberian village, so Lucas also heads there to try find him.

The Chipmunks and the Chipettes go head to head in a hot air balloon race, and the winner gets $10,000. Unbeknownst to the participants, the "race" is actually a diamond smuggling ring!