Verb. To "Peter Gallagher" someone means to engage in sexual relations with his or her spouse, life partner, or any sort of very close significant other.
This is taken from a very predominant theme in film--that Peter Gallagher (or any character played by Peter Gallagher in film or even stage drama) sleeps with the other guy's wife.
Syn: to cuckold, to give horns (to)
Iago to Othello:
"You mean that fuck Cassio has been Peter Gallaghering me the whole time?!"