The act of draining a substance while, simultaneously, consuming said substance.
Example 1:
I really had to drop a deuce mid dinner, so instead of letting it get cold, I bled the system; I finished it while on the can.
Example2:
Q: where's Squirty?
P: he went to the bathroom to bleed the system.
Q: bleeding the system?
P: he didn't want to leave his beer unattended so he took it with him to piss.
Q: atta' boy, no sense in sobering up mid piss!