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1.
It is for when two folks are in a relationship and something needs to change, or slow down, or whatever and needs to be fixed to prevent someone from getting slaughtered.
Not to be confused with "break up".
"Hey, slow down lady. You are being all whiny, we need to brake up so you wont be all kinds of squeaky anymore."
by mrjswilson November 03, 2008
 
2.
to brake up with someone means to end a romantic relationship
"Preston and Kate have broken up" (brake up present perfect)
by Stew154 January 06, 2008