This is the act of two heterosexual men purposefully rubbing their exposed scrotum sacs together, without exposing their penises.
When TJ and OJ rub their exposed testicle skin flaps together, it is not lubbing, because they are gay.
A combination of the words loving and rubbing. Means to rub someone with affection (love).
Boyfriend: I enjoyed lubbing u everytime!
Girlfriend: Give me more lubbings please?!
I like how my bf lubbingly spend time with me.
My gf says she wants some lubbing tonight.