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1.
Pingout is a shortening of the IRC term "ping timeout", a condition which occurs when a ping packet is not bounced back from a user's machine back to the server and he or she is removed from the chat.
Yeah, last night John's ISP was pushing bricks so he kept getting disconnected. It would take ten minutes for the server to figure that he wasn't there out and pingout his butt.
by Ido_Alpha_Omega May 18, 2005
 
2.
To "cum". One "pings out" at the height of an orgasm. "Pinging out" feels tingly, but also very good.
Dude, Adam Tuominen is so hot, he makes me ping out!
by therock3000 September 02, 2004