References to a certain real life actor in Guardians of the Galaxy 2?

In the early 80s, David Hasselhoff's only major role was Knight Rider, which included a talking car, and Hasselhoff's character being a heroic action-figure type. That show aired until 1986, only two years before Peter was abducted; Hasselhoff's next major role (Baywatch) wouldn't come along for another couple years. So, everything Peter was referencing was from Knight Rider combined with Hasselhoff's real life as a celebrity, and a decent amount of hero worship thrown in.

Keep in mind, Hasselhoff was being used here in much the same way that Kevin Bacon was used in the first movie: a pop culture reference that Peter remembered from a young age as a boy on Earth. Since the people who live in Andromeda have no idea who David Hasselhoff is, they only have Peter's (often exaggerated) stories to go by, and they see him as some kind of Earth hero. When people other than Peter make reference to him, you can assume they're probably doing it wrong.