Some thing so funny that is beyond the point of just laughing at. It is so funny that you get an
orgasmic like feeling while
you are laughing.
1. Shit, that was so funny that i just loolgasmed in my pants.
2. When online:
Friend: I just had sex with my
grand mother in the backseat of her
98' ford
explorer.
You: Loolgasm
Friend: I'm serious