I believe the film you two are talking about is called 'The Bermuda Triangle' (1978). It's also known as 'The Devil's Triangle of Bermuda'.
Here's the link to the film I'm talking about on imdb.com (Great website for figuring out this sort of thing). Check it out and see if this is the one you're referring to...
http://www.imdb.com/title/tt0078417/