Schwasted, adj: The ultimate in the four stages of drunkenness.
First you get buzzed, then you get drunk, then you are wasted, and finally you get schwasted, at which point you end up in deep thought, alone, in your undies.
"Let's all get schwasted, it's my last night here. Call Milan to DD."
it's a combination of the words: Sloshed, Hammered, Wasted, Ripped, Euphoric, Destroyed. Basically it decribes being drunk in the utmost emphasis, and also can be utilized when stating you want to get drunk. I.E. let's get crunk.
when i got back home i was totally shwastered, and couldn't bang this chick