Not simply a dilation of time, but an actual state of being only achievable through excessive consumption of alcohol and marijuana. In this state, one is not simply experiencing slow motion: they have become the slow motion.
Doug: "Dude, I was so slow motion last night."
Matt: "Yeah, you seemed really out of it."
Doug: "No dude, you don't get it. I wasn't just IN slow motion. I WAS the slow motion. I BECAME the motion."