An informal and usually non-romantic gathering of two or more people where it is clearly understood that you are being invited to come over for socializing and to have sex.
I exchanged numbers with that hot guy Alec I met at the club 2 weeks ago. We've been talking and even though I don't see him as boyfriend material because he's kind of dumb but. I do think he's too hot not to have sex with. So, I've invited him over Friday night for a Hang and Bang. I'm hoping you'll want join us.
The action of taking her bra and/or panties and using that to fashion a crude cross bow, then the male puts his dick into the makeshiftcross bow and shoots into the vagina.