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Kerry Von Erich defeated Nature Boy Ric Flair at the 1984 Parade of Champions event (promoted by Fritz Von Eric and World Class Championship Wrestling) . The event was in memory of David Von Erich, a man who was originally scheduled to win the NWA championship before his untimely passing.
Von Erich vs Flair isn't talked about much due to Kerry's subsequent title run failing to gain traction. Kerry lost the NWA championship in a matter of weeks with some stating that Kerry wasn't reliable. However, Kerry was still able to build a career for himself that also led to the WWF Intercontinental Championship a few years down the road.
This video looks at the circumstances leading up to the Flair vs Von Erich match in the Texas stadium, the NWA title bout itself, and Kerry's short title run.