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1.
A long period of time characterized for how long it takes a women to do basically anything. Also known as vagina time.
Dude what took you so long?
The bitch was driving... she made vagina time.

We thought you were bring the beers in an hour. Not in vagina time.
by Jason Riley June 18, 2004
 
2.
All the time is vagina time, vagina time is an expression of happyiness or an expression that its a good time(happy time or something good is going to happen at this time)
what TIIIMMMMEEE is it!?!?!? Vagina time!!
by akka February 21, 2005