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1.
When you and at least one other person (at max five others) decide to do something ridiculous over the course of the weekend. This can include, though is not limited too, smoking to high-heavens, drinking till blacking-out is like staying awake, going to Mexico and snorting cocaine off a hookers tit, anything works as long as it is extremely epic.

This event occurs once in awhile, not every weekend. 'Having a Weekend' is an epic event that is similar to a holiday.
At a restaurant, two buddies are observing others
Kyle: They're having breakfast.
Trey: OMG, I want toast and eggs. It smells so good.
Kyle: Ah, dude, we'll just have it when we're having a weekend.
by JoeyGreger December 21, 2009