The episode gets its title from a 1990 made for TV film about Archie and the gang as adults, attending their high school reunion.
As Cheryl Blossom walks through the hall leaving the dance, she crosses the school logo that reads "Riverdale High School Est. 1941". The Archie comic characters were created in 1941.
Blue Monday by New Order is played in this episode at the prom. Guest star Molly Ringwald (Mary Andrews) is a huge New Order fan and used to request their songs be played in the John Hughes films she starred in, most notably Pretty in Pink (1986) which featured two of their tracks.
This episode mentions that the Riverdale Bulldogs will play their arch-rivals, the Baxter High Ravens, for their Homecoming game. Baxter High is the name of the school Sabrina Spellman attends in Chilling Adventures of Sabrina - a series also based off characters from Archie Comics. Conversely, the Chilling Adventures of Sabrina series also makes mention of Riverdale in a way that suggests it is a neighboring town.
Cheryl refers to Betty as Nightmare Smurfette, an evil character turned good, because she wears blue and has blond hair, after recently having worn a black wig that brought out her darker self, her evil side, in the debacle with Chuck Clayton when she doused him with syrup and nearly dunked his head under the water with the tip of her high-heeled court shoe.