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1.
An epiphany or an important moment of self realization that happens when you smoke marijuana.
Paul: "Dude, what you just said makes perfect sense! You're a genius man! How did you think of something so abstract and poignant?"

Tom: "Man... I'm just budwise. All the answers to life are revealed when you're blazed... except you forget them."
by Sea of Green March 27, 2012
 
2.
another slang term for marijuana
dude, where did u put all my budwise? i wanna toke it up.
by sunshine daydream August 17, 2005