Typically stated in situations of extreme peril, such as when your local Assistant District Attorney is kidnapped (again), your partner has been hospitalized (again), or when determining whether or not to repeated roundhouse kick the suspect of a police investigation.
Texas Ranger's Partner: "WWWTRD?"
Texas Ranger: "I know! When I lose consciousness, travel back in time to the wild west to solve the murder of a long dead Cherokee relative, wake up, and have a hearty laugh in the hospital your expense!"
Texas Ranger's Partner: "Time travel... again?"