A real or imagined heart attack that a person experiences usually suddenly in response to a sudden distress or excitement. Originating from Redd Foxx's character Fred Sanford on the TV show Sanford and Son. Fred would clutch his torso with one hand, and extend his other arm out and usually exclaim as it's written in the example below, or some slight variation.
It's not a far cry from the expression to bite the big one meaning to die.
It's The Big One! Ya hear that, Elizabeth? I'm coming ta join ya honey!
Used to describe, or to refer to any form of general laddish, outlandish or outrageous behaviour, or to show one's intentions of exhibiting such behaviour.
Can also be shortened to the acronym - GITBO (pronounced GIT-BO)
"Dom is looking forward to giving it the big one at Neil's stag do this weekend."