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It means either:
A: associating it with basketball .. you yell "ballin" wen sum one makes a basket.
or
B:You popped(took) an E pill .. Down here in Jersey we call them ballers and when you begin 2 feel it(begin 2 ball) then your "BALLIN"
or
C: You madd rich and got money .. that you can flaunt and spend like it aint shyt..so you "ballin"
A: I shot a paper ball in the trash and it made it so my boy yells "BALLIN" in accordance to the fact that i made it.

B:Yo I popped my baller a little bit ago and now im "ballin" hard as hell.

C:I got money to the ceilin bro..Im "BALLIN"
ballin by ST3PHANii3 March 2, 2007
1. Gay
2. Homosexual
3. Cock-gobbler
If someone says they are "ballin" they are coming out of the closet.
ballin by Dramis April 19, 2008
to make love

To have sex

To screw

to fornicate

to lay

To bone

To pork

To spike to the bed

To just down right fuckin
I was ballin the fuk out that hoe when she decided to tole me that she had Gohnahrea and stuff that don go away

After I got dun ballin that fat skank she started to cry, and then she said "You think Im a fat whore" but I told her she wasnt that fat. (then she cried sum moe)
ballin by bartow joe May 24, 2005
To have oral sex with a male's testicles.
"Man, I have been ballin that chick."
ballin by DESU February 8, 2007
being a bigger pimp than everybody else
thas a ballin' ass nigga
ballin by big balla May 20, 2003
word that describes people who are actin cool or can ball on the basketball court
Dude 1: DAAMN that dude is ballin
Dude 2: I agree
ballin by randall 1212 November 27, 2006