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1.
Putting ice into your warm cocaine and baking soda concoction to cool it it down, and cause coagulation between the elements included. aka cooling down soon to be crack/base. It can also be considered whipping ice into the concoction, much like you would whip cake batter.
Im shitting bricks, nigga. My momma caught me icewater whippin and i couldnt lie to her cuz it smelled hella base, nigga.
by Zabba Ged July 21, 2011
 
2.
When you have a whip that is so clean and smooth that when you drive it you feel like your gliding on ice! Anyone watching will just stare in amazement!
Jeff: Hey whatcha doin tonight nigga? Jon: I'm icewater whippin dawg what about u?
by Lena T0269 February 17, 2009