This phrase is commonly used to respond to someone discussing their personal issues when you have no actual substantial response or advice to give.
Guy 1: "Thing haven't been going so well with the wife ever since I found out she was cheating."
Guy 2: "Are you playing AltF4?"
Bellytug may be used in place of joke or prank in certain situations
"looks like the bellytugs on me" "are you having a bellytug?"