The gesture of masturbating in the air, invariably male in orientation, and usually expressing a lack of impression or excitement. Often shown with asterisks bracketing indicating action, like so:
Not to be confused with *air-rub*.
A: I'll bet you five bucks you can't get a date with that fat chick over there.
B: *air-wank* Are you kidding me? I've got a whole cooler full of Ben & Jerry's in the car when the truffles in my pocket run out.