1) A question proposed to a person who's goals are unclear with the purpose of finding out to what degree they would like to die.
2) A phrase used threateningly to discourage the intended person(s) from acting out any ideas they might have that you find disruptive or in anyway harmful. (spiritually, physically, mentally)
JErk: *steals yo' dollars*
Kid: Gimme my dollars back unless you wanna die a lil' bit.