The point at which you allow your swagger levels to overflow. This is caused by not turning your swag levels off every now and then. Overswagulation is characterized by the overuse of the word swag, trying too hard, a huge overflow of cockiness thinking you're "the shit" and an overall swag meltdown which can result in injury.
"Pardon my behavior last night at your party, I definitely overswagulated."
"You pissed on my friends, fuck you and your overswagulation"
"So did you get with that girl last night?"
"Nah man I overswagulated and started speaking in the third person"