This is from about the seventies, maybe sixties. Two young college professors, both full of potential, with their beautiful young wives, are the life of the party and then some. Trailer for it shows them doing wild physical skits in front of guests at faculty parties and they are hilarious.  Don’t recall actors, two guys similar to maybe Danny Kaye and Bob Crane, Peter O’Toole, actually both Kaye and O’Toole seem too old for this, but they are the sort of actors.  Movie progresses, at least one of the two is revealed to be a serious alcoholic, career goes badly downhill. Maybe the other guy did okay. I think a shredding of the friendship happens early in the movie