A lolgasm is where you are laughing so hard you just can't stop.
lolgasm = a laughing orgasm used more so between mates.
person1: "man she was laughing so hard she had a lolgasm!"
person2: "true?, lolk"
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person2: "whoa i just had the biggest lolgasm!"
person1: "lolk, what was so funny?"
the act of laughing so hard you can no longer breathe and have pain in your chest from laughing that hard, similar to the gigglegasm but on a larger scale
Haha, I just lolgasmed when I found out about that prank you pulled