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1.
Spinning out is when you are on any sort of drug and you can't understand what is going on around you.
Dude i ahve smoked far to much ganga and am totally spinning out
by Lucy April 24, 2004
 
2.
used as v. to describe a state of being frustrated with mental tasks; being stressed out. Fraze popularized when mentioned by one character Rich in a film "Murder by Numbers".
I have three tests in two days, I am spinning out!
by Sasha Henke February 17, 2006
 
3.
Spinning out means a short momentary loss in all co-ordination of mind. This term could be used to explain when someone is feeling particulary disoriantated or intoxicated.
A:are you alright
B: yeah mate but im spinning out realy badly
by charlie knowles March 21, 2008