Often spoken with a spanish accent:
1. To cause something to be insane, metaphorically.
2. An expression of good will.
3. A general exclaimation.
1. Will: I'm goin' to the thrift store.
Jason: Make it loco, man!
2. Jason: Sorry I can't go man. I have a date tonight.
Will: Oh, nice.. make it loco dude.
3. MAKE IT LOCO!