chillaxterbate 

to simulitaneously beat off and rub an ice pack on your jewels(genitalia) which produces a "chilling sensation"; this is best done when one is really hot from some sort of exercise and their nuts are hung like a horse, so putting an ice pack on them relaxes them; however, the negative things about chillaxterbating is that the spluge discharge won't be as far because of the cold temperatures and also if you chillaxterbate too long, you will lose all of your babies(sperm) due to that cold temperatures kill them; this can also be a 2 person exercise which can include many enjoyable positions

I love to chillaxterbate after weight lifting because it cools me down

chillaxterbate by weasel May 25, 2005

Chillasturbate 

To masturbate on and off while chilling for a long period of time. Often occurs during boring weekends when nothing is going down and leads to loss of friends/eyesight.

"My mom is mad at me because all I do is Chillasturbate and I'm starting to wreak of it"

Chillasturbate by Richards, not the one from KS February 4, 2010

chillaxerbate

to be chill or in the act of "chilling out" while masterbating

just be patient.. go chill or masturbate.. or chillaxerbate

chillaxerbate by webster24 July 12, 2005