The act of taking a relationship with a male friend to the next level. This can be something as trivial as adding a friend to your buddy list on AIM once you realize that you actually give a crap about talking to him. This could also be something as significant as giving your bro an actual promotion on the job front.
How'd you get that KM position?
Well the GM, Mark, is my boy, he gave me a bromotion.
When a friend does something so idiotic that you have to question your friendship....not end it, necesarily, but set some time aside to question your bromance.
Ravi: Andy why the EEFFFF you bring all these douchebags to hang out with us?
Andy: What are you talking about they are all cool guys
Ravi: No there are not...they are borderline cunts...if you keep bringing them around, I'm going to have to put you on brobation!
A vacation amongst male comrades, or 'bros' as they are known. Generally a road trip to a desirable spot which allows for good bonding and all sorts of unchecked shenanigans.
Female variation is known as the Hocation.
You: Yo man if you release them crickets in the hallway, you ain't graduating.
Me: Forget graduation bro. Only thing that matters now is Brocation.