The ability to drink a beer extremely fast, but without anyone noticing you taking a sip of it. As in, you have half of a beer left but your friends is empty, your friend Schlundted the beer.
An exclaimation employed by Michael Jackson in a number of his songs, most notably "Man in the Mirror". In actuality, the phrase likely to be Jacksonalization of "Come on".
"You gottamake a change! Schmon! (Make that change)"