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Im not jacking that 

not agreeing with someones else idea or opinion
Friend: yo bro you tryna go rob the store
Me: Nah im not jacking that

Not Jacking That 

I’m not buying it. Not going for it
Doug said Mike won a million dollars last night playing lottery. Man he still lives with his mother I’m not Jacking that

nutjacking 

Slang for masturbating, particularly performed by males.
I can't wait for Britney Spears to lose some weight so I can get back to nutjacking to "Oops!... I Did It Again."