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The act of Bang On It has many different meanings, and depends mostly on the context of which being used. Much like many four letter word, Bang on It is interchangeable and always metamorphosing.
In Celebration of a great job, instead "High Five", throw your fist out for a fist bump, and say " Bang on It.
A attractive female walks by, you look at your friend, tilt your glasses down and say "Bang on it."
Your working against the clock to launch a sortie, you complete the job. Your colleagues look at you in gratitude and offer a firm "Bang on it"
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Someone not showing up.
For example, calling in sick to work.
Boston, MA
“My coworker banged, so I’m all by myself today.”
"The Bang" is referred to an idividual or small group of individuals that enforces the collection of illicit debts.
Jimmy owed me 6k in betting debts so I had to send the bang. I later found out Jimmy's car was stolen as collateral; I was paid shortly thereafter.
sex. often used by the younger generation
kyle 1~ you me and that girl went out last night!
kyle 2~ did you bang?
kyle 1~ duh dude lmao
To fail (especially a test) badly.
Chi: How was our math test.
Teacher: I have been marking zeros since.
IN CLASS...
Chi: You guys we banged math.
Ore: Guy! I can't bang math.