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To whip dat means to hustle. Gettin money how you can and working hard. The term comes from the street term whip it, which means to cook crack. Whip dat is just a more general term for hustling. The word whip is the base of the word, also used for the same meaning. The term was created by american rapper Uncle David.
"I'm out here whippin dat, gettin that, stackin that." -Uncle David

"What you doin?"
"Shit, I'm just out here whippin son."

"I gotta whip dat today."
by SamFletch October 31, 2009