The act of taking one's virginity.
"Oh she got Red Rammed? Danm, how bad?"
"I Red Rammed the shit out of her!"
A Red Ram is the nickname for a woman who drives a red Dodge Ram, usually with a mud racing sticker on it. These women are generally closeted lesbians looking to get pegged.
I was out at lunch the other day and ran into a Red Ram. I saw the sticker and I knew.