-To be belligerently drunk, but still completely functional, while hitting on anything with a heartbeat.
-To be obliterated.
-Being wasted while everyone enjoys your charming and enticing embrace presence.
-Applicable to any day of the week, one must be blacked out.
Bro 1: Hey Bro what's that guy doing?
Bro 2: Oh man he is really Waded Out. He hit on every girl here and they enjoy it!
Bro 1: I want to be Waded Out!
Bro 2: Then stop talking and beer bong this Vodka.
Waxed out is when you get totally wasted beyond wasted. You are now beyond shitfaced, and have entered a new dimension of fucked up-ness. You are waxed out.
Yo, Showerhandle. I am going to get so waxed out tomorrow on some Psilocybin mushrooms. I am going to enter another realm that exists within the human genitals, and tear open its mouth with my brain tumor.
To be overly tired, drained or strung out. Usually due to the use of some form of illicit drug.
The term was coined because of the oils and sweat that persperate through the skin from being under the influence of certain drugs. This in turn causes the hair to become oily/ greasy and have a wavy appearance.
Dude, last night was fun as hell but I'm waved out.