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3.
Coolin', or "coolin' out", "straight coolin'" and other vernacular is the act of congregating in a less than reputable locale with the presence of alcohol. It requires at least one person (see illin') to initiate said coolin' and another to acknowledge the invitation to cool out.
"Parking lot coolin"

"Coolin out"

"Straight up coolin"

"Coolin hard"
by Chicks Drink Free September 13, 2011
 
1.
Taking it easy
Me and tweezy where coolin
by ImmaculateMatt March 05, 2003
 
2.
another word for chillin.

hanging out

in the house doing you.
john: hey wassup what you been up to?

Michael: nothing just been coolin with the homies
by Dee Sparx June 24, 2009
 
4.
chilling on your street corner with some bud and your favourite girl
'ayo dawg, me and felicia was coolin it on 25th and 7th when these wack niggas rolled up and started talking smack'
by Dawg May 29, 2003
 
5.
This word can be used in everyday life. Its simple "Coolin" means i'm just relaxin, kickin back, chillin, not doing anything.
I havn't been doing much lately, just been coolin ya know.
by Meech360 August 31, 2014