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Verb. A general reaction to being fired, dumped, or dissed in which the offended party embarks on an alcohol-fueled revenge plot involving legal recourse, defamation, and even violence or vandalism.
Employee #1: Hey did you hear Pat got the ax? HR came up and watched her clean out her desk!
Employee #2: Damn, dude. I bet she's gonna wally up a brisco.
To hang out partying, usually very late on a weeknight, with your neighbros. The wally usually is ended by an angry wife.
Neighbro 1: Hey, you want to wally up tonight?
Neighbro 2: Naw, man I can't. Wife is stilled pissed about last Tuesday night.