Kissing cousin to the term, "I'm bracing for the worst", this term refers to when Person A is about to go through what may likely be "Hell in a handbasket", and so Person B is holding him close 'n' tight to reassure him and encourage him to not feel quite so distressed or afraid.
Young mother who's soothingly cradling a slight-figured blonde-pigtailed toddler on her knee in a doctor's waiting room: My little one's gonna have blood-work done for the first time, and so I'm embracing for the worst --- she's insanely petrified of needles, exactly like her Mama when I was her age. So not only will my holding her super-tight help her to feel safer and comforted while the syringe is being used, but it will also keep her terrified little body rock-steady in spite of her fears, and so the procedure can go off as quickly, cleanly, and painlessly as possible.