General info:

In early 2002, this was rumored to be on sale at the Gathering, but never was. It was supposed to be a Best of Sabu-type video with mostly Sabu death matches and shit, but it never came out and no word on it has been released since.

This is the answer from a fan mail question on juggalowrestling.com from May 29, 2007:

When are you gonna put out another Stranglemania?

Will there ever be a Stranglemania 3? There are no plans at the present time, but never say never and we mean that. Don't fuckin' say never. Everything fuckin' changes from month to month around here. When Stranglemania 1 and 2 were made, hardcore wrestling such as barbed wire, exploding rings and all that was still relatively new, today it's pretty much been seen everywhere. So the concept ain't as fresh as it once was, but... Never say never.

At the ICP seminar on the Gathering Of The Juggalos 2018 was announced that there is going to be a Stranglemania 3 release. More info soon