In the process, or implying getting absolutely obliterated with your buddie.
Hey John, are we pushing pelt tonight?
When a dude has no money and his wife/girlfriend gives him a haircut. It looks like a mad/angry-conjunction pelt lying on top of a head.
Check that mangry pelt on Biillbo's head. I heard Bill had trouble making rent so his old lady gave him that mangry pelt.