You take a shit into a condom, then freeze it and fuck a girl/guy with the frozen shit. This term originates from the cold weather in Alaska and the large amount of pipelines.
Guy 1: Yo, this chick was totally down for an Alaskan Pipeline.
Guy 2: Really? That's fucked up! When did you do her?
Guy 1: Just a few minutes ago. She even wanted it up her ass!
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