It's when you take yours or someone elses weiner out and start rubbin' it up and down. Most people do this in groups and to pleasure themselves. This action is not safe to do alone. The ending result is when you do that o face and that "white stuff" squirts out of your penis.
"Dude, last night da boyz and I were dubbin' each other off so good."
Playing "NC DUBBS" or NCAA Football with friends or online. Can include any version (07, 08, 09, etc.) or possibly but not usually other NCAA games (Baaketball, etc.). Quite possibly the best video game tradition.
Person 1: "Dude what u wanna do??"
Person 2: "Just got a PS3, lets play."
Person 1: "U got NC DUBBS?"
Person 2: "Yeah Dude! Were Going Dubbin!"