to simulitaneously beat off and rub an ice pack on your jewels(genitalia) which produces a "chilling sensation"; this is best done when one is really hot from some sort of exercise and their nuts are hung like a horse, so putting an ice pack on them relaxes them; however, the negative things about chillaxterbating is that the spluge discharge won't be as far because of the cold temperatures and also if you chillaxterbate too long, you will lose all of your babies(sperm) due to that cold temperatures kill them; this can also be a 2 person exercise which can include many enjoyable positions

An exclamation made when your friends or family are teasing you to a point where you can't handle it anymore and a hissy fit is in order.

Derived from a YouTube user's famed outburst following Britney's lackluster performance at the 2007 VMA's.