It's a Spoonerism play on the phrase "People Trippin", and is used to indicate that someone is under the influence of at least 3 different types of drugs.
"Whoa dude...I just smoked a joint, slammed a beer, and popped a vicodin. I'm Triple Peepin for sure now bro!"
by GazChamber June 4, 2013
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Triple Peepin • Triple Threat • triple c • Triple S • Triple Bs • triple h • triple crown • Triple D • triple double • Triple F