A romantic holiday which coincides with the more popularized 'Valentine's Day'. The exact etymology is unknown but is often attributed to South Shore guidos and small children with equal intelligence. Now a colloquialism used by urbanites who use the term in jest to condescend those who aren't in on the joke.
Jersey: Are you doing anything for Valentime's Day?
Stephanie: Do you mean Valentine's Day?
Jersey: Yeah, Valentime's Day. Jesse and I are hittin' up the club, it's gonna be cray. I'm wearing the shortest skirt, I think I'll have to freshen up my spray tan first.
Stephanie: Sounds great, keep it classy, Jersey.