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Similar to an event "going down", yet when something goes DON, it shows that the event is so fantastic, and imperial that to take the time to enunciate the "W" in down it will just slow people down from arriving.
"Dude, It's "Going Don!"
"Man, It's "Going Don!"
"She saw my dick and realized....it's going don"
by Pat Steiner January 24, 2012