A blow job performed by some one who has potato chip crumbs in their mouth resulting in a saliva chip coating on the cock.

When someone cuts off someones head and dips their penis in their throat. Originally invented in Russia.

When you are lying in bed naked, taking pictures of a bag of chips & you accidentally take a picture of your dick. OR
When you cut a whole in the bag of chips, put your dick in the whole & tell your lady friend to help herself to some chips.

dikchip
-noun
Chips that have been contaminated by someone who puts their hand in the bag after going to the bathroom, WITHOUT washing their hands.

The unwashed crusties that flake off the tip of the penis .

chips rubbed on someones dick/vag deliberately as a trap. see mall rats.

chips that have been in a males pants, then directly eaten, or stored for later eatage