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We're taking it to the parking lot. 

The phrase "We're taking it to the parking lot." means someones going to batter your ass right in the school parking lot and embarass you in front of everyone. If you hear that phrase being said to you, you better be in a fighting mood, because there is a change you can whack his ass out too.
Hey, little snitch. 3:00 sharp, we're taking it to the parking lot.
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I gave my life to Christ in the parking lot

Gay code for having blown a man in a parking lot.
I liked this dude so much I gave my life to Christ in the parking lot.

porking lot 

A "Lover's Lane," breakdown lane, RV park, mountaintop, alley, or any other place couples park for the purpose of having sex in said vehicle.

Example: "Inspiration Point," often mentioned in the TV show "Happy Days."
"I took my girlie to the porking lot this weekend, and -- WOW-WEE! We must have burned 16 rubbers."
porking lot by Jason L. July 29, 2005

parking lotting 

when people have nothing else to do so they just sit in a vehicle at night with 1 or more friends in a shady parking lot, and pig out and/or discuss life
referred to as "lotting" as short, or lets go "lot"
person1: yo man i just got a shitload of food from wawa, and i have a lot to get off my chest
person2: you want to go parking lotting?
parking lotting by shitheadasshole December 30, 2008

Parkin[g] Lot

Basically, it means "the buttocks," but that just makes it sound so common. It's basically means a pair off ass-cheeks that you just can't take your eyes off. Like when you're walking in the East Village of Manhattan behind a pair of tight-jeaned cheeks, be them falling out or not and you are mesmerized. That is a Parking Lot!
"Damn, bitch. Yo Parking Lot showin!" "Damn, she got a fine PARKING' LOT." "He backed that PARKING' LOT right up on me. He could tell I liked it." "I can feel it in my PARKIN' LOT! MY PARKIN' LOT! MY PARKIN' LOT!" That was from Madonna's Hearbeat. Insert it...."You can catch me poppin' like (I keep on dancing to the night)." Instead of "You can catch me poppin' like, it's, "I CAN FEEL IT MY PARKIN LOT." It works. Trust.
Parkin[g] Lot by Kevin Clamato December 12, 2009

porking lot 

A parking lot that is commonly known for having car sex.
Johnny took Jane out on a date to the porking lot last night.
porking lot by SomeChickInCali December 28, 2010

back parking lotter 

An elite group of socialites who congregate shortly after 3:00 to discuss pop culture and high school events.
Micheal, you're a back parking lotter now, and you know what that means.
back parking lotter by Tony April 3, 2005