Heard more in past decades than currently--but NOT a dead expression, by any means. Although you'll likely only hear it come from the lips of the white, local-born folks living in the bigger, Northeast metro areas of the US.
The best
definition is no
definition. Better to put it this way: consider it the cleaner mouthed, more socially acceptable (especially in mixed company) way of saying "
Don't bust my balls." The two expressions are virtually interchangeable.
1PM, Steve shows up 3 hours late for
work...
The Boss: "Good morning, Steve--glad you could join us."
Steve: "C'mon boss, don't squeeze my shoes, will ya? You worked me for
13 hours yesterday and I didn't get
home until 7AM."