The phrase has a variety of meanings and has never been officially defined. It was first coined by "The Broski" in the YouTube video "My New Haircut II Return of the Broski".
A shot at the title cannot happen every weekend. It has to be special, such as a holiday, facebook invite party, having friends visit, sporting event, bachelor party, wedding, etc. So you cannot just win a random game of beer pong and claim that you have won the title because that is bullshit. It is a good common courtesy to call a shot at the title at least 4-5 days before the event. This ensures that you have several days to get "jacked and tan" for the event.
"The title" can be obtained through means of alcoholic competition (Usually Beer Pong) or out-drinking a friend or rival. It does not have to be a competition though...It can just be good friends getting very drunk together. In that case everybody wins.
The Broski's definition of a "Shot at the Title" is the act of going to a party to try and hook up with "slam pieces"(See broslikethissite.com)... So I suppose in this case the "slam piece" would be "The Title" that you are taking a shot at.
VERY IMPORTANT! - For any "Shot at the Title" it is essential that you "Bro Out". Never wear just basketball shorts or jeans with some random T-Shirt. It is highly recommended that you wear a nice polo or dress shirt. Good brands include but are not limited to: Abercrombie & Fitch, Hollister, Lacoste, and Polo Ralph Lauren.
1. " Bro! We need to take a shot at the title next week for New Years Eve!"
2. "Hey bro, Sarah is going to be there tonight! Are you going to take a shot at the title?
3. "Sorry bro, but I'm going to go workout. We do have that shot at the title next week."