Captain America: Death Too Soon (1979)
Reb Brown of SPACE MUTINY plays Steve Rogers, an artist and part-time superhero trying to stop the former Fu Manchu himself, Christopher Lee, before he can gas an entire city with a rapid aging chemical weapon.
The original film is kind of a bore, with little superhero action. It's a feature-length origin story that should've been covered in the first 20 minutes. Best to skip right to this one.
Oh... well, poopie... Do 'em both, then!
That youtube link is for the first "movie", not this one. I wish I could find the second one.
Its got Reb Brown in it, so I'm in... I actually saw this a long time ago and the first thought I had was "Dear God, this would be great on MST3k"... Just to help with the evidence for this one, here's the whole fricken' movie from youtube: http://youtu.be/3tJospXwHSE