A form of ditching, more specific to actually leaving (peace) a situation or place (the scene) due to a very good reason. These reasons could be: boredom, something revolting, awkwardness, p.d.a., lack of hype, etc. Most commonly employed as an excuse for an entire group. Statement starts with reason to ditch, then with the line "let's peace the scene."
Did he just chunk all over the floor? Guys, let's peace the scene.
Dude, they're making out in here. Let's peace the scene.