1. The act of jizzing. More so intended for girls to use, hence the clit.
2. Expressing your frustration in someone/something. Used the same way as fuck, goddamn, etc.
1. Claire: Oh my god, did you see that picture of Emily Browning? Major clitjizz.
Jeremy: Clitjizzin' all over the place.
Natalie: Whoa, Josh Farro's manboobs, clitjizzin' in my panties
Claire: Gtfo with your Italian sausage.
2. Chriss C just found out about our plan, clitjizz.