This movie was definitely an extended Nintendo commercial, but I don't remember the Power Glove playing an important role. All the hype was for the big tournament at the end where they unveiled Super Mario Bros 3 as the championship game. I still remember the announcer declaring that Jimmy had found the warp zone, which gave him an insurmountable lead in the competition.

Then the family reunites and reconciles and solves all their problems. It was sort of like Rainman, but with kids and video games

Just keep Shia Labeouf away from it.

Have they tried looking in the Brown Lands, across the Great River Anduin? I hear that's where the female of the species ended up.