The process of jerking off into your own hand and giving a nice, sloppy hand job to your acquaintance.
Dad- “I heard John gave you a milky handshake from your sister.”
Step son- “yeah. There was so much but, it was sloppy af. Best milky handshake I’ve ever gotten. He jerked off in his hand and gave me a handjob”
When you spooge into your arm and give a handshake.
-Man, Tom just gave me a milky handshake!
-Ew, fkn fgt.