a method of partying that is consistant with "on the road" by jack kerouac. living life to the ultimate extreme.
is not limited to the over consumption of alcohol/drugs, but usually works out better. one could easily "party wasted" at church or a library.
also can be used a greeting or parting.
ex1: "we went to the kelly clarkson show last night. we were so party wasted. don hooked up with a high schooler."

ex2: man1: "Hey party wasted?"
man2: "mostly, i got to get going, but hey party wasted?"

ex3: "Party Wasted"
by Cosmo S. February 17, 2006

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