it's a combination of the words: Sloshed, Hammered, Wasted, Ripped, Euphoric, Destroyed. Basically it decribes being drunk in the utmost emphasis, and also can be utilized when stating you want to get drunk. I.E. let's get crunk.
Consuming as much Alcohol as possible in a certain time range. Eventually one will end up in the state of mind of being shit-faced/plastered. (Shlastered)
In PCB we were so fucking fed up with this ginger fuck named harris that we would just make sure he would get shlastered and pass out.
Getting really drunk, while at the same time trying to obtain a copious amount of horse manure. It almost always involves a couple of hispanic workers that are used as sidekicks. Usually takes place in rural areas of the united states south of the Mason Dixon line.