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1.
A casual, modern way to introduce yourself to a female.

It is the handshake of the 21st century.
It was nice meeting Susan, but it wasn't until I gave her a nice firm boobshake that I was able to ascertain her personality.
by SRP November 02, 2007
 
2.
Verb: The action of exchanging polite gropes.
Like a hand shake, but the persons grab each other's boobs as a greeting rather than hands.
When Molly walked in the door, Yolanda greeted her with a welcoming boob shake.
by Bairee October 12, 2010