It's a continuation of the popular game of "sticky biscuit" where men masturbate over a biscuit inserted in a lady's vagina. Except in this version the lady is on her period.
"Oh man, you missed a great game of jam on a biscuit last night. That menstruation sure tasted good"
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).