A reference to a Simpsons episode in which Milhouse first complains about wearing his "dorky highwater shorts" but feels better when the floodwater "soaks his ankles" but leaves his cuffs "bone dry," at which point he exclaims "Alright, everythings coming up Milhouse."
Example: I was picked as the "Best Edward from Twilight Look-alike" at the Springfield Bi-Mon Sci-Fi Con. Looks like everything is coming up Milhouse.
Rob: Dude where were you last night?
Dave: Sorry man ... I was busy coming up short
Rob: You did Marissa?! isn't she only like 4'11"?
Dave: 4'10" actually.