Laughing so hard you bust a nut.
"Munson's dick pic was so small i busted a nut laughing!"
"....i hope he's allergic to nuts because that shit aint funny."
"It's hilarinut, shut up."
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A term used when you are laughing insanely hard. Similar to laughing your ass off, you are busting a nut, because you are laughing so hard at a persons joke.
Jeff: "Damn, look at her camel toe gobble up those tights!! Hahahahah"
Carlos: "Oh my god! I am busting a nut laughing right now!!"