The intentional pouring or far more common spilling of alcohol, most often beer, on oneself or others.
Bro 1: I was slammin back some natties when this bitch bumped into me.
Bro 2: So what happened?
Bro 1: I pabstized the both of us and had to get another brew.
Rapper: Get me some crystal so i can pabstize these hoes.