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1.
Floich is a verb. It means to stay up longer than one should on the internet, knowing that work or other responsibilities are coming in the morning.
"I am sooooo tired, because I was up late last night floiching"

"My friends kept me up floiching all last night"

"I have to go now - I have floiched long enough"

"My wife is away, so I'm going to sit around and floich the night away"

"I am totally floiched from last night".
by Rick from Canada March 12, 2009

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2.
Floich is both a noun and verb.

As a noun - a floich is a slacker who spends too much time online, avoiding other responsibilities.

As a verb, it is the act of slacking off by doing meaningless stuff online.
Some uses:

"Stop being such a floich and get to bed"

"I am sooooo tired, because I was up late last night floiching"

"My friends kept me up floiching all last night"

"I have to go now - I have floiched long enough"

"My wife is away, so I'm going to sit around and floich the night away"

"I am totally floiched from last night".
by Rick from Canada March 14, 2009