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Slang phrase often used to describe the act of getting people to understand and agree to the same set of facts, typically in a corporate environment. Usually this phrase gets used when a delegation of authority and/or liability is at risk to the company to ensure that all people involved have a clear understanding of the next steps before proceeding.
To ensure everyone understands the risks of proceeding with this campaign, let's connect everyone so we can level set.
Dipshit corporate lingo which creates unnecessary confusion in order to make the speaker look like some dignified asswipe for obscuring something as simple as "get everyone on the some page"
"Lets set a meeting to level set"
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