When you break into a fit of laughing out loud and can't seem to stop :
When your sides hurt and your eyes weep from laughing so hard.
Lolgasm is better than lolzer!!
I totally lolgasmed when he fell off his seat.
When a person reaches the climax of a laugh or find something extremely funny, he or she reaches lolgasm.
This was the funniest joke that made me reach lolgasm.
Lolgasm is like an orgasm for your laughing muscles. If something is very funny, and you laugh uncontrolably, this is a lolgasm. Typically, when you laugh so hard you can't breathe or it hurts, this is a Lolgasm moment.
Michael: So, I just like. Fell off.
Sean: Hahahahahahahahaha. LOLGASM.
Laughing uncontrollably, succumbing to a 'lolgasm'.
The climaxing point of an enourmous laugh when you have to gasp for air in order to just say the word 'lolgasm' and then subsequently retreat into hysteria again.
Person 1: 'I'm not gay'
Person 2: 'Tell that to your bum hole'...'lolgasm!'