When you're so fucked up that you have to sleep in the tub in fear of pissing yourself, as in piss drunk.
dude 1: man I was piss drunk last night, glad I called a tub-night.
dude 2: you are a loser dude.
when there isn't anything going on, so you and a few buddies get really drunk and hook up in a hot tub, but none of you remember the next morning.
you-"the party got canceled tonight. What are we gonna do?"
friend-"i dont know, looks like it could just be another one of those hot tub nights."