Means to get high. Used mostly with the word 'get' in front of it.
'Let's get calibrated'
'I want to go get calibrated'
'I was so damn calibrated the other day...'
Another way of describing someone who is buff, ripped or rather muscular.
Great when associated with guns
Mate, your guns are totally calibrated!
You want to come to the gym with me and get calibrated?