This is a scale used to analyze the precise lol (laugh out loud) factor of a joke or amusing moment. There are three levels of lollage, they are in their respective order from lowest to highest: major lollage, ultimate lollage and maximum lollage. The level of lollage is determined either through a group consensus or individual taste.
Dude, that was totally ultimate lollage.
Major lollage moment, when Jon Goslin was in Las Vegas.
The thing on Donald Trumps head has the maximum lollage factor.