to rob drug dealers (rip them off and then run the hell away)
Girl : Jesus, I crossed some 70s porn the other day -- John Holmes was hung like a goddamn blue whale. Made me wonder what the hell you got.

Guy : Yeah, but at least Eddie Nash didn't beat me to death for rippin and runnin.

OR

what do you do for a living ?
I rip and run.
by merc misfire May 4, 2006
Maintaining a busy, frantic pace; hypertasking.
Sorry I didn't return your call, man; I've been ripping and running all day.
by Tom Head July 7, 2008
To steal someone's Status Update on Facebook and post it as your own.
1st Person: "Yo, did you see what Mike put as his Status Update? No doubt it was funny as hell but he is no King of Wits. He most definitely cut and pasted someone elses status.
2nd Person: "True. That cat is notorious for the Rip and Run."
by Poop Stain Barney April 22, 2011
To steal from someone and run away. Commonly used to describe the actions of those who rob drug dealers and run or prostitutes who take the money and run before providing the sexual exchange.
John: How many guys have you had tonight?

Hooker: Not one. I've been ripping and running all night.

Example 2:

Q: Where'd you get all that money from?!

A: We found out where the weed dealers live and started ripping and running.
by mr_ming November 14, 2011
For someone to fart and book ass outta there!
As i was finishing biology homework, my friend decided to rip and run, making it very difficult for me to complete the required assignment.
by n8dagreat157 April 10, 2008
To do asbestos removal illegally. To "Rip" the asbestos down, and "Run" (clean area. get rid of asbestos as quick as possible as though nothing illegal was done.)
That construction company did a "Rip and Run" job in that boiler room.
by Newt U. August 7, 2011
A noun that originates from Gig Harbor, Washington. It's used when a couple of teenagers get together and have a smoking session resulting in a large amount of munchies and absolutely no idea what food you want from where.
Ian: hey, you wanna smoke some pot?
Aubrey: yeah. Let's go.

17 minutes later

Ian: oh I am hungry as shit. Let's go on a Rip N Run.
by Hunter Salsa February 1, 2010