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1.
Simply a variation on the classic MILF that is well known. This is referring to a "Mother-In-Law-I'd-Like-to-Fuck."
That dress your mother-in-law was wearing at the wedding seriously made her look like a MILILF.
by Dr.Gutin February 21, 2006
 
2.
Mother-in-law I'd like to fuck - a theoretical possibility but never reported in the masturbatory literature.
I married her because her mom was hot, a real MILILF
by Alybrella January 12, 2011
 
3.
Mother In Law Id Like to Fuck
Jack: Nervous, groom?
Tom: No way man, I know Liz is going to hot when she's older, I've totally got a MILILF.
Jack: Dam, she is a MIL-IF
by wommer June 24, 2011