The act of exposing one's penis at a party or event (preferably a large one (referring to the penis or the event or both)) and shooting jizz EVERYWHERE. Thus spraying and dazzling everyone at the event or party.
The following is Jake's account of a sprazzle dazzle:
Dude I am so strazzled right now! I have a presentation across town in less than 30 minutes that I haven't even started to prepare for - nor have I left the office yet! Ahhhh!
Jane: hickoria.
John: that isn't a word! what, do you think this is sqrazzle or something?
Jane: It is so a word. It's the art of hickory smoking something.
John: ...sure...