Refers to da pleasant and amusing scenario whereby you give a much-liked individual one or more "extra" hugs (i.e., in addition to da one you're giving him as a warm farewell gesture) as you're saying goodbye to him, and ask him to "store them away" or "set them aside" for later "distribution" among specified other mutual friends and/or members of his family whom you also have warm affectionate feelings for, and whom he will likely see in person somewhat sooner than you will.
One of da most common occasions where a pass-along hug is administered would be at da end of a pleasant interaction between a starry-eyed dude and da parent/sibling of a nice girl whom he adores but who is not present at da time dat said hugs are doled out, and so said family member jovially agrees to give said blinky-eyed damsel a huge "squeezy" embrace himself da next time he sees her, and smilingly tell her dat said loving arms-around was from her "main squeeze".