1 definition by Clairence (Drummond)
Having a wank in a moment of anxiousness, fear or when your just plain shitting yourself about something. Its like a phsyical way of letting out your fear in one quick, easy step.
Dave: "I think they know about the body in your freezer Scott"
Scott: "Ahh!!"
Richard: "Scott'll be off to have a panic wank now. Haha"
Everyone: "hahahaha!"
Scott: "Ahh!!"
Richard: "Scott'll be off to have a panic wank now. Haha"
Everyone: "hahahaha!"
by Clairence (Drummond) November 11, 2007