A combination of the words Drunk and Rank. It means that you are actually so drunk that you are smelling due to copious amounts of alcohol and or defecating in ones garments.
I can't remember last night, judging by the smell of my room, shit was runk.
Runk; This word derives from Runkonian myth and lore. Commonly used by those who are more rotund and social inept in a situation of panic. This word has fast become the cry or (squeal) of those in danger in a mythical or very real situation.
But do not get confused, this word can also be used by those who like excreting feacal matter and by those who Runk It Out.
This word was originally used in the battle of helms deep, we were balls deep in action and ended up Runk.