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1.
Etymology: Combination of the words mega, fun, and time.

1a: A spontaneous outburst of extreme fun. Often associated with food runs.

2b: An unplanned activity of random fun. It is considered disrespectful to refuse a friend who requests your participation in MEGAFUNTIME!!!

3c: A college necessity.
Matt and Andrew: "MEGAFUNTIME!!!"
Kara: "I have homework"
Andrew: "Lets go to Whataburger! MEGAFUNTIME!!!"
Matt: "MEGAFUNTIME!!!"
Kara: "MEGAFUNTIME!!!"*

*and they all go to Whataburger
by FancyEgret1 May 01, 2011