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1. Flip shit
To become worried/anxious in an overly dramatic manner. To "freak out". Usually used in the phrase "flip your/his/hers shit".
Don't flip your shit, Anya. You will be able turn in your paper tomorrow.
by Monte-Cor Nov 3, 2003 add a video
2. Flip Shit
To "Flip Shit" means to cause chaos and/or mayhem.
Also usually means "fun" to teenagers
John: Heh, Joe, lets go steal some gun powder and fuses to flip shit down at the mall

Joe: Sweet. Can we get stoned first?
3. Flip Shit
To simultaneously trip on LSD and shrooms
Brett was flipping shit the other night whilst simultaneously watching SpongeBob and Waking Life. Andrew just took two hits and is sipping on a big mug of shroom tea; he is gonna flip shit.
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