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1.
A shortened version of don't milk it, commonly used in North London.

Similarly one can be a Milk, where by he or she over reacts, ie. Milking it.
Jerome smacks Jemal

Jemal: fam, allow that really hurt, im mean seriously I might be bruised.

Jerome: Nah fam don't milk
by NorfLondonRich May 06, 2011