Tickley dick is the tickley, yet unpleasant sensation you get in your penis after a long banging session, post-ejaculation. It usually makes you walk all caddywhompus, inhibits you from a second bang session, and can usually be cured after urinating.
Friend:"Rob, why the fuck are you walking so funny?!?"
Rob: "Sorry guys, you caught me post-coitus and I have the worst case of tickley dick ever!"
Friend:"well go piss it away, how are you supposed to play wing man when you're walking like a dick head!"