similair to nippin' out, a phrase used to create an awkward situation, stating that you are aroused, creates the same affect as saying something along the lines of "boner achieved"
When you can't hang at a party. Originates from a Derek who had a mental breakdown after ingesting large amounts of Marijuana and Vyvanse. He had too much alcohol and couldn't finish his burger we gave him. So know when someone can't hang we say they are dirking out
For when people, particularly men, back out of something because they're scared or don't have the guts. Dicks are anatomically weaker than pussies, one quick tap to a dude's dick and he's on the floor crying. Meanwhile, women are giving birth from their pussies.