The act of getting owned by the Plasco Trak Tardy Tracking system. This system has you scan an ID which prints out a late pass. This eliminates a teacher from having to write you a pass to class.
There is a great dispute between whether this makes you more or less late to said class.
"This sucks" - Friend 1
"What's up?" -Friend 2
"I just got Plascowned. Look at my ticket" -Friend 1
"Damn dude, I got Plascowned just last week for being 2 seconds late to class" -Friend 2