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Demons is cool. So is Demons 2. If you've only seen the 1st Return of the Living Dead check out 2-5. They're not a bad franchise at all.
Like Mothman said, some Troma stuff would fit the bill. I recommend Redneck Zombies (Low, low, low budget zombie films that's fun to get stoned & watch) or Cannibal! The Musical (Written, directed by & starring Trey Parker & Matt Stone of South Park fame)
There's also a film that sounds exactly like what you seek called Punk Rock Holocaust (starring tons of bands that were on Warped Tour one year), but I don't recommend it. It sucked pretty bad.
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