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1.
The act of catching a bus that isn't going to your intended destination in the hope it will catch up with a bus ahead that is going to your intended destination.

i.e. Your bus pulls away just as you reach the stop so you jump on the next bus and ride it until it either over takes the bus you want or arrives at a bus stop the bus you want is stopped at, then you jump off the wrong bus and onto the right bus therefore avoiding being late.

Sometimes also referred to as bus surfing.
I missed my bus and ended up bus jumping all the way.
by Lou d June 06, 2007