A shot of booze consumed with a friend over the phone when you just can't be togther, especially if they are very far away. Usually involves tequila and a count down so you know you are really drinking a the same time.
Person 1 in California: "Dude, I just finished my last final today!"
Person 2 in North Dakota: "Awesome, this calls for a phone shot! One two three, drink!"
Similar to phone sex but involving alcohol instead.
Especially helpful when one partner is without a source of alcohol or engaged in an activity that prohibits the consumption of alcohol.
"I just got on the highway and I had such a crappy day at work, I need you to pour me a phone shot right now and drink it while I tell you about it! That's it! Yeah, one more cube of ice and just a tad more lime baby! You know the way I like it!"