Chillaxed 

It's a word put together from Chillin' and Relaxing. It actually means the same. If somebody should cool down you could say he or she has to relax or has to chill out. If you decide not to choose between these to, or you haven't made a decision while you already have to say the word, you say 'Chillax'.

It could also mean having a good time with your friends.

Woo man, don't get so angry, chillax a little!

or

Hangin' out with my homies today was super chillaxed.

Chillaxed by Jasper Vondeling September 3, 2007

Chillaxed 

It means your relaxing at the same time your chillin.

I'm Chillaxed at the beach!

Chillaxed by Pimpilishous March 26, 2009

chillaxed 

becoming relaxed by chilling with your friends

i have been chillaxed since i went to rachels house

chillaxed by naomier April 24, 2006

chillaxed 

hanging out with your homies

i chillaxed at mimi's house.

chillaxed by Jaiyla October 29, 2005

chillaxed 

to chill (to cool down) and relax at your pace

I chillaxed as I played with my pussy and smoked a joint

chillaxed by Kit Kat July 4, 2006