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Laughing out loud. Adding -ing to a word means something is going on, has been going on, or will be happening. Lol stands for laugh out loud. So lolling is laughING out loud.
Sophia: knock knock
Gabi: who’s there?
Sophia: orange
Gabi: orange who?
Sophia: orange you glad I didn’t say banana
Gabi: Sophia’s so funny I’m “lolling”
Lolling by Djswift March 16, 2023

Lollisexual 

A person who is only attracted to those who identify as asexual.
"I only like asexuals, therefore I identify as Lollisexual"
Lollisexual by Lollisexual March 24, 2022

lollislop 

A chick's face covered in a combination of saliva and semen and sometimes smeared makeup from giving the ultimate long and messy blowjob.
Chuck: Hahaha, look at that dirty bitch. She's head to toe in lollislop.

Ted: Yeah, now her sister's licking it off.
lollislop by threeinchfrog August 4, 2010
lollin by nate November 24, 2004
I gave her flowers and lollies like a real gentleman. She still wouldnt put out though.
lollies by herbie August 31, 2004

J.K. Lolling 

A play on the English writer J.K. Rowling's (writer of the Harry Potter Series) name. It usually means "Just kidding, and I am laughing aloud at the same time" or just "I am currently laughing aloud".
Frank: Dude you're such an asshole sometimes, you know Sarah and I broke up last week.

Joe: I was J.K. Lolling (insert emphasis here).
J.K. Lolling by Baeowulf February 23, 2008