A: To act blatantly racist towards a race you are related to.

B: To be overly physical (touchy-feely) with someone.
Example A:

Jose: "Bruh I hate Mexicans so much."

Lenny: "But dude, your Chilean."

Jose: "So what"

Lenny: "Jose, stop Vellve-ing."

Example B:

Jose: (touchy Lenny on his back awkwardly)

Lenny: "Dude, stop Vellve-ing."
by goosewiz June 1, 2014
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