Pinnochio and the Emperor of the Night.  It came out in Christmas 1987 so I would have been nearly 4.

http://youtu.be/PLr2tTtRd8Y

The trailer bears out my memory that it was a very odd movie.   I remember being a bit of a bother to my parents.  I was a bit bored by the movie but I thought the theater was fascinating.  Kept wanting to get up and get food or go see if I could find the source of the bright light at the back.  (the projector) 

Now if you'd ask me what the second film I went to see was ... no clue.   The next theater memory I have was for Teenage Mutant Ninja Turtles (that came in 1990 so maybe it was that). 

He who was formerly sonofjesusfreak.