Young [A] passes his undergraduate career drinking with his friends, lying in bed, and working on his novel. The novel-within-the-novel is a work of meta-fiction: its protagonist, [B], another indolent writer, devises characters who spring to life to do as the writer’s pen commands — though they don’t always do so willingly. The characters include a fetching young woman whom B writes as a lust object and whom he then cannot resist. He has his way with her, notwithstanding that she is the product of his imagination.
Following?
Their coupling produces a half-fictitious/half-corporeal (-but-still-fictitious, remember) bastard son, [C]. He is an angry young man, with a talent for writing inherited from his father. He uses this skill to help his fellow fictional characters have their revenge on their progenitor, [B]. Meanwhile, the original protagonist has managed to snooze his way to the top of his class and all is well.
Then the camera cuts away before the top topples.