Taking a shot with someone via a webcam. Useful to get drunk with your bro who goes to school far away.

Or a fun game to play on chat roulette; see if you can get enough people to drink with you to get hammered.
"Yo Rangie, wanna take an iShot?"
"Yeah"
or
"Hey you're not exposing your privates, wanna take a shot with me?"
"Hell yeah man, I need a drink"
by Limblessless May 14, 2010
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The act of taking a cheap photo shot with your iPhone of a girlfriend/wife without her knowing.
Check out the ishot of the load I left on my girlfriends ass last night.
by MStewart747 June 12, 2009
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