Abbreviation for the term 'pregaming' often used by celebrities of high status.
You want to preeg before going to the party? They may not have an open bar there and I have some Black Label at home.

I preeged too hard that I didn't make it to the party.
by Mary Smallz November 24, 2013
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To stab someone with your junk/dick
Guy 1 "Hey man, did you see John get Preeged by Will?'

Guy 2 "No, but did you see Bill preege Alice?"

Guy 3 "Ya man, that was some funny shit!"

by supafagal October 22, 2008
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To physically shank someone with your dick.
dude bill was so wasted that he Preeged tony when he wasn't looking!
by Halabaster October 22, 2008
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