A "Sauced Rooster" is when your shitfaced drunk and get a raging hard-on. Your "Rooster" gets "Sauced" when you loose control of it because of the booz. Can also be used as a noun.
MIKE: have you seen chuck tonight? Grindin on that cow.
MAT: Ya man, he's one sauced rooster. Now hit this shit.