This is phrase derived from the alternate meaning of 'Broke', "One who's unattractiveness is displeasing to the eye".
Usually coinciding in time with the most generally accepted form of last call, this is the period in which men at the bar realize that they are
probably not going to bring home any prize-winning beauties and focus their game on the uglies, disregarding both
attractiveness and
personality alike. This usually leads to the being in the state of coyote ugly the following morning.
The DJ announced over the mic that it was
last call. Taking queue, Johnny scanned
the dance floor for anybody, thick or thin, homely and lonely, who would come home him. Yes, it was
time to go for broke.