The act of barely inserting an unprotected penis inside a vagina in the heat of the moment, then quickly removing said penis to put on a condom before continuing with sexual intercourse.
Origin (A dip in the lip is a phrase used by Alabama teens who don't dip but make jokes about dipping) basically calling someone your best friend that you can't live without as in rednecks who can't live without their dip in their lip
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.