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Description
The $1,000,000 Chance of a Lifetime was a game show that ran in syndication from January 1986 to September 1987. In this game show, two married couples competed against each other for $1,000,000 in cash and prizes by solving hangman-style word puzzles.
In order to fill-in the blank spaces in the puzzle, a series of toss-up clues were played. The clues were usually one word in length, but certain clues called for two or even three words to be used. The contestants were told how many letters were in the clue and the letters were put into the clue one at a time until one of the contestants buzzed in. If that contestant gave a correct answer, the couple scored $25. If not, the clue would be filled in up to the last letter and the opposing contestant got the chance to guess.
Once a contestant guessed correctly, he/she stepped up to an oversized keyboard to place letters in the puzzle, which was displayed on a giant screen. All of the letters appearing in the puzzle, as well as a star if there were any punctuation marks in it, were lit on the keyboard, as was one additional letter that was not. The decoy letter was referred to as the Stinger. Correctly guessing the clues earned the contestants the choice of two letters on the keyboard, and each time the letter appeared in the puzzle $25 was added to a bank that went to the couple who solved the puzzle. If either contestant found the Stinger, their turn immediately ended and a new clue was played.
In the second round, the couples switched positions and the values for each word and correctly placed letter doubled to $50. For the third round, as well as any subsequent rounds, the values rose to $100 and each couple had to choose which one of them would play. The game continued as long as time permitted. If time ran short during a puzzle, each of the remaining letters was put into the puzzle one at a time and the bank continued to accumulate until one of the couples answered correctly.
The couple in the lead at the end of the game won their bank and played the bonus round. If there was a tie after the final puzzle, a final toss-up clue was played with sudden death rules; a correct answer won the game, but an incorrect answer resulted in an automatic loss.
Losing couples received parting gifts, a copy of the show's home game, and their front game winnings if they were an outgoing champion.

In this deviation, the teams consist of a high school principal, that school's assistant principal, and a student that can help the two other contestants. On the team representing Canterlot High School, Principal Celestia and Vice Principal Luna are trying to win money for Rainbow Dash, while on the team representing Crystal prep Academy, Principal Cinch and Dean Cadance are trying to win money for Sugarcoat. Both teams are tied at $500 entering the third round of the game, and only one of them will go on to play for the $1,000,000 cash prize. Who will buzz in with the correct answer to the tossup clue and will have the opportunity to get the first shot at solving the master puzzle?

Sugarcoat/Principal Cinch/Dean Cadance vectors from mixiepie.deviantart.com/ (MixiePie)
Celestia/Luna vector from masemj.deviantart.com/ (Masem)
Rainbow Dash vector from mewtwo-ex.deviantart.com/ (T. Cooke)

MLP is owned by Hasbro, while The $1,000,000 Chance of a Lifetime is owned by Warner Bros. Television (it was produced by XTPLA, Inc. and was distributed by Lorimar/Telepictures).

Description
The $1,000,000 Chance of a Lifetime was a game show that ran in syndication from January 1986 to September 1987. In this game show, two married couples competed against each other for $1,000,000 in cash and prizes by solving hangman-style word puzzles.
In order to fill-in the blank spaces in the puzzle, a series of toss-up clues were played. The clues were usually one word in length, but certain clues called for two or even three words to be used. The contestants were told how many letters were in the clue and the letters were put into the clue one at a time until one of the contestants buzzed in. If that contestant gave a correct answer, the couple scored $25. If not, the clue would be filled in up to the last letter and the opposing contestant got the chance to guess.
Once a contestant guessed correctly, he/she stepped up to an oversized keyboard to place letters in the puzzle, which was displayed on a giant screen. All of the letters appearing in the puzzle, as well as a star if there were any punctuation marks in it, were lit on the keyboard, as was one additional letter that was not. The decoy letter was referred to as the Stinger. Correctly guessing the clues earned the contestants the choice of two letters on the keyboard, and each time the letter appeared in the puzzle $25 was added to a bank that went to the couple who solved the puzzle. If either contestant found the Stinger, their turn immediately ended and a new clue was played.
In the second round, the couples switched positions and the values for each word and correctly placed letter doubled to $50. For the third round, as well as any subsequent rounds, the values rose to $100 and each couple had to choose which one of them would play. The game continued as long as time permitted. If time ran short during a puzzle, each of the remaining letters was put into the puzzle one at a time and the bank continued to accumulate until one of the couples answered correctly.
The couple in the lead at the end of the game won their bank and played the bonus round. If there was a tie after the final puzzle, a final toss-up clue was played with sudden death rules; a correct answer won the game, but an incorrect answer resulted in an automatic loss.
Losing couples received parting gifts, a copy of the show's home game, and their front game winnings if they were an outgoing champion.

In this deviation, the teams consist of a high school principal, that school's assistant principal, and a student that can help the two other contestants. On the team representing Canterlot High School, Principal Celestia and Vice Principal Luna are trying to win money for Rainbow Dash, while on the team representing Crystal prep Academy, Principal Cinch and Dean Cadance are trying to win money for Sugarcoat. Both teams are tied at $500 entering the third round of the game, and only one of them will go on to play for the $1,000,000 cash prize. Who will buzz in with the correct answer to the tossup clue and will have the opportunity to get the first shot at solving the master puzzle?

Sugarcoat/Principal Cinch/Dean Cadance vectors from mixiepie.deviantart.com/ (MixiePie)
Celestia/Luna vector from masemj.deviantart.com/ (Masem)
Rainbow Dash vector from mewtwo-ex.deviantart.com/ (T. Cooke)

MLP is owned by Hasbro, while The $1,000,000 Chance of a Lifetime is owned by Warner Bros. Television (it was produced by XTPLA, Inc. and was distributed by Lorimar/Telepictures).