To race an engine, usually out of gear, to speeds at or past the rev limiter, making the engine emit a dramatic cacophony of high RPMs, exhaust noise and parts rattling from the vibration of the engine being put to it's limits.
To run the engine at such high speeds that the vibration risks the engine coming apart catastrophically.
To race an engine to the point where the vibration loosens the nuts and bolts holding the engine together.
To push something to it's breaking point, or past it's safe working limits.
Jake revved the nuts off his subaru WRX until he threw a rod.
Samantha was so displeased at being cut off that she revved the nuts off her hayabusa at the next red light, while glaring at the driver that cut her off.
Did Tom rev the nuts off of my car when he borrowed it yesterday? Because it isn't running right anymore.