Some thing so funny that is beyond the point of just laughing at. It is so funny that you get an orgasmic like feeling while you are laughing.
1. Shit, that was so funny that i just loolgasmed in my pants.

2. When online:
Friend: I just had sex with my grand mother in the backseat of her 98' ford explorer.
You: Loolgasm
Friend: I'm serious
von E Tizzle 10. März 2004

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