Definitely struck me as an uncredited remake of The Warriors (1979) with elements stolen from Escape from New York (1981).
The Bronx has been abandoned by police, since it has been taken over by gangs. Each gang wears costumes and have matching modes of transportation. A woman runs over a bridge into the Bronx. She's due to inherit the presidency of The Manhattan Corporation, but wants to avoid those people who would have her be just a puppet. After she gets attacked by one gang, another gang saves her and she becomes the girlfriend of their leader, Trash, who has the most feminine walk I've ever seen in a guy. Perhaps that's what too-tight pants does.
Anyway, Trash's gang ends up having to fight their way through a couple other gangs to get to the King of the Bronx, the head of the Tigers, Ogre. Trash also has to deal with traitors in his own gang.
The video I saw unfortunately was cut, so I missed out on the tap-dancing gang (!). There were some silly gangs in The Warriors too, so I guess they were just following that.
Fairly entertaining, but derivative. Don't bother with any cut versions.