2. A shot of alcohol (taken either in a shot glass or straight from the bottle)
3. A toast
See also: Chatka Time!
This is an Americanized version of a Ukrainian word meaning "Small Cup" or "Little Sip", which has been adopted to refer specifically to a small sip of booze. While the tradition began specifically with the Krawchuk family of Philadelphia, PA, the idea has spread across the country (and overseas) because who doesn't love a good Chatka Time?
2. I think it's about time to pass around the Chatka, don't you?
3. We're having a Chatka tonight at 9pm Eastern time for Goob's birthday, don't forget!