Flunk Out - verb
To flunk out is to party on a weeknight before a test, exam, quiz, etc. One gets so inebriated that he/she flunks his/her test, exam, quiz, etc. Another word for faded, throwed, or any other synonym, but with more meaning.
"Hey man, do you plan on going out tonight? You have two exams tomorrow."
"I plan to just flunk out tonight."
"Damn shame, my dude."