While talking to a woman, losing one's train of thought upon catching a glimpse of her cleavage.
"I was telling Sally my favorite joke and in the middle of it she leaned forward letting me see her cleavage. I forgot the punch line and blew the joke. I was titnotized!"
The act of looking down at a woman's breasts and being unable to look up.
Chris was at ALA and looked down to see the woman's name badge--he was unable to look up, he was titnotized.
The ability for boobies to destroy concentration, as well as force the titnotized to stare at boobies.
I so tried to maintain eye contact with that burlesque dancer but i was completely titnotized by her pasties.