The earliest memory I have of hearing it is a magazine doing a parody of a movie calling the sequel “____ part 2 electric boogaloo”.
Any one know?
There was an 80’s breakdancing movie called Breakin’. The sequel was entitled Breakin’ 2: Electric Boogaloo.
I am ashamed to admit I saw both of those. 
If I were you, I’d be more ashamed to admit I hadn’t seen the post that beat you to that explanation by 3 hours.
