From the word conflagration, meaning a large fire. Stealth, or code, for blazing. Pronounced Con-Flag-Great. Often used around parents or those who do not approve of smoking.
Parent: (listening to conversation)
Guy 1: So man, are we gonna conflagrate later?
Guy 2: Yes.
A pseudo-intellectual term meaning to burn, frequently due to arson.
After throwing a molotov cocktail at that shack, it conflagrated quite nicely.