Small cartridge filled with nitrous oxide used for huffing.
Yo.. give me a hit of that whippet.
The huff of nitrous oxide (NO) left in a carefully managed can of Reddi Wip after all the cream is gone.
Whipped-cream-in-a-can is propelled by nitrous oxide. This usage is the source of the term "whippet". The term has come to refer to any little canister that'll give you a hit of NO.
Sure I'll pass the Reddi Wip, but save me the whippet.