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2.
Feeling really good and opening up to people, lights, sounds and emotion when you're on drugs, typically ecstasy.
The lasers were awesome and the DJs were going off, I was peeling hard and loving it.
by pillfreak December 12, 2008
 
1.
When you are consuming a large amount of alcohol. Generally the aim of this exercise is the get extremely intoxicated.
1) Hey Sam, are you peeling tonight?

2) Yea, ill be peeling tonight.
by arnold12 February 17, 2010