A shot of booze consumed with a friend over the phone when you just can't be togther, especially if they are very far away. Usually involves tequila and a count down so you know you are really drinking a the same time.
Person 1 in California: "Dude, I just finished my last final today!"
Person 2 in North Dakota: "Awesome, this calls for a phone shot! One two three, drink!"
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