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3.
This is a term used between two or more people (though usually among gay men) to point out a nearby person who is physically appealing to the eye so as not to attract attention to the subject they are looking at.
John: I really like the new schedule they gave me at work.

Jason: Yeah, I am pretty impressed with mine as well. "Meanwhile" (as Jason uses his head and eyes to motion John's attention in another direction).

John: Oh wow! Yeah, definitely. You think he's related? (note that "related" is another gay term used. Check Urban for its definition.
by Cbranson November 18, 2010
 
1.
hottie alert; hot male

A term used mostly by gay men to point out a passer by, usually hella hot.
*A guy passes by a group of friends*

Guy1: Meanwhile ...
Guy2: Very much so
by Sammy AntonGiovanni April 29, 2004
 
2.
A term some gay men use to point out to their friends in a public place.

From the movie, The Broken Hearts Club.

Scource: The Broken Hearts Club, movie.
"Meanwhile, nine O'clock."
by Tonya April 03, 2003
 
4.
A word that can be used as an odd interjection and/or a way to change subjects.
Luis: I saw this fine chica in the mall and-
Davo: Meanwhile! Dah, dah-dah, dah!
Bobby Evans: Luis is a nicca.
by HugeBreasticle April 30, 2005