1- to make fun of someone to the point where everyone listening just puts their head down in embarassment for the person being "fried".

2- cracking hillarious jokes about someone whether they're listening or not

3- basically making fun of someone really really badly and it's really really funny.

When you think up something brilliantly righteous while baked.

same as "trippin"; used to describe the effects of LSD or other hallucinogen