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it's on, like Rae Dawn Chong 

A retort meaning that something is really going to happen. Statement of agreement meaning that something for sure must happen. The fact that it doesn't really rhyme makes it funnier if used as a retort when talking to somebody who won't really get it and will actually think you used it cause it rhymes. However, now used in common language with reasonably intelligent people because the obscurity of it and lack of true rhyme makes it sound like something a truly stupid person would say.
Friend 1 (slightly less intelligent friend): I really feel like going out tonight, I gotta get my drink on.

Friend 2: Yeah brother, I'm with you on that. It's on.

Friend 3: Oh it's on, like Rae Dawn Chong.
Class President, Valedictorian, Straight-A student. Smarter than everyone but humble about it which is kinda annoying. If people don’t like him, it’s because they jealous. Most likely to succeed.
“Hey did you hear Raedan won State Student of the Year
Raedan, usually blond, long, curly hair, blue eyes, Large cleavage, Fun to talk to and overall awesome.
Hey, Did you know Camerin and Raedan are best friends?
raedan by Camerin March 26, 2018