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1.
To drink alcohol in excess and at a very fast rate. Performed with the intention of getting rat arsed as quickly as possible.
I haven't had a drink since we got in this morning. Let's go smash some piss, Jonaldhino.

I really feel like smashing piss right now.

We smashed a lot of piss last night.

I can't wait to smash piss again tonight.
by Chowgz February 09, 2007
 
2.
To consume a large quantity of alcoholic beverage (usually Beer) in a very short time.
The godfather just wants to smashpiss after winning the grand final.
by smashpiss February 25, 2008