2) To have sex with one Frank Iero.
Person 2: "I Ray-ed it better. Bye."
2) Person 1: "I so frank-ed Frank Iero. hard. It was yummy so yummy I may have imagined it."
Person 2: "You did imagine it. Bye."
Being inappropriately frank.
Douchebag: "She looks great no matter what she has on"
Bystander: "Dude you just got Franked"
"did you see terry last night he was franked! he threw a burning spear through the double glazing"
"you mean to say you franked my daughter!"