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An action that occurs without thoughts of a repercussion. Usually a very ballsy move, with a lot of courage.

Such actions have been performed by the infamous Bill O'Reilly, who "did it live" when his teleprompter broke during a recording.
Doing it Live:

Man 1: "Hey, do you think we should call Chris before showing up to his house?"
Man 2: "No, dude. Let's show up. We're DOING IT LIVE!!"

O'Reilly: "I'LL WRITE IT, AND THEN WE'LL DO IT LIVE! ...WE'RE DOING IT LIVE, FUCK IT!!!!"
by Snorris July 29, 2009
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Deciding how you're going to get home from the bars at the end of the night, instead of designating a driver or finding a place to crash.
"So I don't remember whose turn it is to drive tonight, I guess we'll just do it live."
"Look, man, we can just-"
"-WE'RE DOING IT LIVE!!"
by Randy Suave August 07, 2008
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Getting the party started. Turning it out, getting ill, getting sick, getting stupid doo doo dumb.

Getting the party hyped, getting hyphy.
Dude 1 : Yo homie what's good?

Dude 2 : We doing it live at jus's house yo!
by Cam'ron-Dee August 20, 2010
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