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1.
A wet dream. A sexually stimulating dream that causes ejaculation.
Ian: Dude, I had the best dreamgasm last night about Jessica Alba!

Jordan: Jessica Alba! I love having dreamgasms with her! They're fantastic!
by Eric Scott December 06, 2005
 
2.
A Dreamgasm is the abbreviation for Dream Orgasm. This is when you have such a hot dream normally about sex that when you wake up the orgasm feels real and it's all you can remember about the dream.
h-Dudeee that was one hot dream
j- was it about that teacher again?
h- yeh, I think I had a dreamgasm
by HanSpan November 23, 2010