If your child doesn't like what you're cooking for dinner, what do you tell them? "Fine then, STARVE!". The definition here is literal, but this phrase can be used loosely in a variety of situations. It doesn't apply strictly to food, you can use it wherever you would tell someone "ok, whatever then" or "tuff shit", depending on the connotation.
1. "Dude, I've got 2 hot bitches coming over and you're going to bed?! Fine then, starve!"
2. Mike says: "I don't feel like playing that game right now," ... Ron replies: "Ok, fine then, starve"