Fast Tracks

November, 1982

Girdling her Loins Department: Olivia Newton-John has been signed to star in an Australian film, Undercover, which will begin rolling right after the first of the year. Undercover is not a cop movie; it's a comedy, set in the Twenties, about a country girl who goes to work in a foundation-garment factory. What's that, you ask? An underwear factory. Olivia is also planning another movie--a comedy with music--with John Travolta. She says, ''We'll be playing adults this time, not kids.'' Maybe we'r...