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1.
When one puts off going to sleep. Usually spent on the computer.
Steve is online

Zach <12:01am>: What are you still doing up?
Steve<12:01am>: I'm procrastisleeping.
by Ambrosine February 28, 2010
 
2.
When you dread having to spend the day doing something menial, so you spend a few more hour lying in bed and hoping it will go away.
Alice: Do you want to go out for dinner?
Bob: No, I was procrastisleeping untill 2 p.m. and now I'm running out of time to finish this assignment.
by Zrnspm May 31, 2013