“Ship it!” Defined:
The first thing everyone asks and needs to know: what exactly does “ship it!” mean. To put it shortly, it’s an enthusiastic confirmation of a potentially awesome event. The word potential is used carefully, since nothing can be guaranteed to be awesome until you actually committ to doing it, so in that sense everything is potential.
Having given the basic definition, one must figure out their own uses, but remember that it is an extremely versatile phrase. It can be used as a confirmation of a future event:
Person 1: Want to head down to Wrigley to watch the Cubs beat up on the Royals?
Person 2: Ship it!
an active verb:
“Ship me some red bull”
or a stand alone future participle:
Person 1: You end up getting that girl’s number last night? Person 2: Consider it shipped!
Also, Admiral Awesome, an orginal Ship it! Guy, posted a definition on Urban Dictionary for the world to see.