It is used to describe any and all forms of pan based banter and often in reference to having to down a boiling pan or multiple boiling pans of an alcoholic beverage.
The word was initially coined in Shakespeare's Hamlet and has become commonplace in the English language from the late 1600s onward.
Horatio was being a bloody lad and had to down 6 pans of vodka and kas ... panter (Hamelt, Act 2, Scene 5)
Lost your wallet - that's a pan
Overly large forehead - that's 2 pans
HIV positive - that's a pain
Brain damage - that's a pan to catch your dribble
Instrument for writing with ink - that's a pen