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1.
A higher stratification of the term "baller."
Person A: I just bought the new Kanye album
Person B: How is it?
Person A: Balling.
Person B: Is that all?
Person A: Correction--it's ballerass.
by Samuel Roberts and Michel Antoine November 27, 2007
 
2.
Having surpassed "cool" or "tight". It's the drunk dude who nails two sober chicks at the same party; the song that makes you want to spin kick a punk ass; or a dunk where the dude first gets a face full of sweaty nuts and then a second later a basketball is bounced off of his dome
Guy 1: Yo, wasn't the song "Back to Back" by Wolf Gang pretty good?

Guy 2: Pretty good? Bro'heem, that track was baller ass!
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Guy 1: Maaaan, Ray Ray's carrying the team AGAIN tonight… 21 points in the first quarter alone.

Guy 2: That dude's straight baller ass.
by Jooster the Rooster January 01, 2014