I can't remember the name of a movie I watched years and years ago. Can someone help me?

The last scene of the film involves a woman waking up in the present and running to a male friends in which they both confirm that they had not just dreamt about a fantasy adventure together as they both still wore magic rings on their fingers to prove it happened.

The rest of the movie is hazy but it was based in either the future or some parallel world in which their is some sort of villain ruling the world with robot or armoured minions. The hero was a Conan style character with muscular features. One scene I do recall involved the hero being chained down by the main villains minions while he was being whipped (possibly the whips were blue or electrical) as the hero struggles the man and woman mentioned previously watch on helpless. The hero manages to break free of his chains and fight back.

This is all I can remember im afraid. I must have watched this movie on TV I think about 15 years ago

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