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1.
The act of going to the Keg in Lafayette with a bunch of people; drinking, dancing, and just gettin stupid.
A: "Hey what's goin on tonight?"
B: "Start heading towards campus, we're keggulatin"

A: "It's 1:30 in the morning, why did you just call me? What are you doin?"
B: "We're keggulatin"
A: "Oh alright, it's cool"
by ACause March 13, 2010