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2.
When someone is eating hot chips, takes a bite out of it, and give it to someone else. This is called a Bitch Chip.
"Hey Kate can i have a chip"
Kate bites chip and offers it to me.
"Na-ah girl. I dont want no Bitch Chip"

...I ate it anyway
by Guy Who Shouts Stuff October 22, 2008
 
1.
When something goes wrong.
Or if somethings excellent.

The equivelent of sick.
Its both good, and bad.

Also spelled: bitchips
Negative:
Bitch Chips! That skank wouldn't give me head.

Postive:
Bitch Chips! I found my car keys!
by Kaylaaaaaa August 28, 2007