To take quickly, often away from someone else; can also be used as an exclamation
I'm about to go schnag some munch before I meet up with you guys.
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Ken: (holding an ice cream cone)
Tommy: SCHNAG! (grabs ice cream away from him, accidentally dropping it on the floor)
Ken: aw degrade
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The next meal after you have eaten a considerable amount food due to having the munchies.
Tommy - That party last night was super crazy, but I'm pretty hungry now.
Bennet - Yea man, same, I'm about to go schnag the aftermunch as soon as I get home.
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One who simply cannot stop munching, i.e., a fat person.
Tommy: Did you see you that guy in the booth at Mcdonald's? He was huge!
Bennet: Yeah, he was totally a munchaholic.