A mixture of the words chill and relax
except it seems to be there two words multiplied so its a sort of extreme relaxing.
Can be used for when you are sitting in your garden on a summer evening with a beer listening to 'Time of the Season' by The Zombies.
Or if someone is having a major freaker and going ape shit at people you can tell them to chillax.
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Metaphorically speaking, a "drug" a person will tell another to take when their level of stress or aggression reaches profound heights in which it is now useless to merely tell them to "chillax".
"It's no big deal, dude... You're girl came onto me, but I didn't put it all the way in, so just take a chillaxative!"
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Obvious portmanteau of "to chill" and "to relax".
Originated in the Netherlands, where students (both foreign and Dutch) spent so much time chilling & relaxing that both regular words were simply not strong enough to describe the constant and intense state of relexation said students were in.
It is used the very same way as "to chill" or "to relax" but has a slightly stronger connotation.
"Dude, you wanna come to the club tonight?"
"Nah man, I stay at home and chillax"
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Chillaxing (cha-ill-axe-een-guh) to chill-out and relax simultaneuosly.
MAN, Bobo, stop that noise! Your cutting into my chillaxing time!