The rope-bridge standoff.
Indy is on the middle of the rope bridge and Short Round and Willie are on it too. They are being approached from both sides by Thugees. Indy is holding a large saber. He is trapped. The Thugees are quiet but jovial as they approach Indy from both directions. Indy is sweating profusely and his eyes are wide. He looks from side to side and then down into the gorge. I don't know if I'm getting the sequence exactly right but he tells Short Round to "hang on." He then slowly but resolutely raises the big saber above his head and wraps his leg into the rope of the bridge. Looks both ways and takes a swing. It doesn't go the first time but the Thugees aren't so jovial anymore, they make a pathetic attempt at getting off the bridge but Indy takes another whack and down they go.
I think its the "last ditch effort" feeling that I like about the whole scene. You watch it and think exactly what they want you to think..."oh no he's not!?" Its also the look on Indy's face of both terror and deceiciveness. He knows he may be sealing his fate but he's got no other choice so here-we-go...