verb: to become so exhausted or intoxicated that you fall asleep in the middle of a social event. There is a certain connotation of defeat; to cake is to fail to keep up with the mind and body punishing schedules of your peers. A shortening of the phrase driving the Hostess Twinkie truck, which has the same meaning.
1. "Guys, I gotta go home, I'm about to cake."
2. "Oh, Eric's caked over there on the couch."