One bro is telling another bro about something that was extremely chill. After this, they begin to lax. For non-laxbros, they can reiterate this action through the phrase Bro So Chill Lets Lax without having to whip out their lax sticks.
Bro 1 - "Bro, I did the chillest thing ever."
Bro 2 - "No way bro! What went down?"
Bro 1 - "So I was fucking this chick when her boyfriend walked in and I was like 'shit.' but then he was like, 'Bro, its chill.' and pulled out some Nattys and joined in."
Bro 2 - "Bro So Chill Lets Lax."
They then proceed to pull out their lax sticks and lax.
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. Penguin Books,1992. p. 38)