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1.
The point of drinking where you surpass the "shit-faced" "hammered" and "wasted" stages. This is followed by a necessary blackout and possible inability to not remember what happened the night before. (Warning! In the morning, you'll have the world's worst hangover and you'll want to mutter the infamous words "I'm never drinking again")
Last night I got so shwammered I woke up in the morning in the public restroom of our residence hall naked with blood all over my hands.

I was so shwammered last night, I don't know how I got home or why there were 3 mexicans in my bed with me and my girlfriend this morning.

I was so shwammered last night, I'm never drinking again.
by r-fine23 April 25, 2010
 
2.
the point of drunkenness when the intoxicated subject is coherent and aware yet blissfully tipsy. Shwammered describes the point of being drunk between tipsy and belligerent.
My homie G Krupa is shwammered and having an amazing night.
by Llalec January 19, 2012