Proper name; a surgical procedure where the male reproductive organ is cut off. The first account of a successful Bobbit-ectomy occured in Manassas, Virginia, in 1994, by Ms. Loreena Bobbit.
Bobbit It = to cut the cock off of a cheating man and tossing it somewhere it's not liable to be found, so you effectively RIP his cheating life.
Babygirl, if you can prove he is sticking his cock in anyone other than you, baby bobbit it and nobody could blame you and you would probably get away with it and nobody would want to see you locked up for taking "things" into your own hands and cutting it off and tossing it wherever you (don't tell me where,lol) decide to RIP his cheating life.
A sexual act. Obviously, this one is for the ladies. When engaging in some hard core booty sex, squeeze your butt cheeks together as tight as you can, and start violently jumping and thrashing your ass around, in an effort to rip his dick off. (To reach true Lorena status, you must take the severed dick for a drive and then toss it out the window.)