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1.
When you're sitting in a spot while eating and watching TV, playing video games, or doing anything that doesn't involve a lot of movement or brain activity. Often while you are high and have the munchies.
"Woo! It's munchlaxation time."

"Man, I just wanna go home and munchlax."

"Don't talk to him while he's munchlaxing."
by Krummholio May 12, 2007