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It's a physical reaction that a person has when they get over stimulated or excited when typing, often when someone is in the act of Instant Messaging. It causes the typer to make several mistakes and become flustered, eventually just feeling exhausted and unable to continue typing.
Jen: What happened when you were talking to Craig in the chat room?

Cheri: I got so excited that I completely keygasmed and finally logged off.
Keygasm by natthefiddler March 30, 2009
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kreygasm 

Kreygasm is an emote or emoticon from a website, twitch.tv. Kreygasm is commonly used to show intense emotion similar to an orgasm.
Oh my God! That 5 man Reverse Polarity. KreyGASM
kreygasm by Rawrchi October 9, 2014
Related Words
A super saiyan orgasm. Only a true Keegan could cause a woman to experience this.
Keegan: "Dude, I totally gave my wife a Keegasm last night! She almost exploded!"

Dude: "Whoa."
Keegasm by Gengarqt October 14, 2011

I lost Kreygasm 

The act of being defeated by the simple sight of an attractive person.
Reaching your climax instantly, preferably in less than 3 seconds.
*when your roommate walks into your room*

ooooh God, I lost Kreygasm...
Kygasms are generally referred to as “happy shudders” mostly occuring after partaking in alot of “touching”. The word babeh is often used after being involved in a kygasm.
“hey...wanna touch”
*touches*
*wriggles*
*happy shudder*
“KYGASM!”
“nice babeh”
Kygasm by Colibri November 11, 2007
When a person called kerry gets extremely excited and or happy.
Mr Mosby from the suite life of zack and cody was in my episode of BROTHERS AND SISTERS -) last night i got all excited and had a kergasm! :D
Kergasm by Nebraska April 9, 2008

I LOST Kreygasm 

I tried not to cum, but i lost
Rajj: Kandy can you show us ur necklace?
*kandy gets closer*
Chat: I LOST Kreygasm