When you break into a fit of laughing out loud and can't seem to stop :

When your sides hurt and your eyes weep from laughing so hard.

Lolgasm is better than lolzer!!
I totally lolgasmed when he fell off his seat.
by Kim-123 September 13, 2010
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When a person reaches the climax of a laugh or find something extremely funny, he or she reaches lolgasm.
This was the funniest joke that made me reach lolgasm.
by the bby February 1, 2011
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Lolgasm is like an orgasm for your laughing muscles. If something is very funny, and you laugh uncontrolably, this is a lolgasm. Typically, when you laugh so hard you can't breathe or it hurts, this is a Lolgasm moment.
Michael: So, I just like. Fell off.

Sean: Hahahahahahahahaha. LOLGASM.
by Lolitan. June 4, 2010
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Laughing uncontrollably, succumbing to a 'lolgasm'.
The climaxing point of an enourmous laugh when you have to gasp for air in order to just say the word 'lolgasm' and then subsequently retreat into hysteria again.
Person 1: 'I'm not gay'
Person 2: 'Tell that to your bum hole'...'lolgasm!'
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