Movie from the 80's, quick synopsis:?

In the begining, it is based in like the 50's or 60's, and this guy has a disagreement with another high school kid. They decide to play chicken to resolve it, meaning they drive their cars towards a cliff drop off, and the first one to bail out of their car is the loser. But his bracelet gets caught and he dies in the car. Then is flashes to the 80's and his spirit has to show unselfishness to earn his way to heaven. He is assigned to this kid who is too cool for school, long story short, the kid ends up being his son from the girl he loved in the begining of the movie. And, he presents himself to the kids mom, who was the girl he was in love with from the begining of the movie. Does anyone remember the name of this movie? Thanks.