Lolligaging - (Verb) The act of procrastinating when one has important things to do, such as homework or actual work. When one posts the word "Lolligaging" on facebook, it is an indication that they are currently in the practice of avoiding work.
"Eric was lolligaging when he should have been doing a webassign"
"Rachel lolligaged by speaking with Eric on facebook, during time she should have been writing a paper on frankenstein"
Dude: "I can't hang out tonight, I gotta finish my homework"
Other dude: "How are you not done with it yet??"
Dude: "I've been lolligaging all day..."