Green’s Dictionary of Slang

1. foolishness, nonsense, empty chatter.

1862		Harper’s Mag. Aug. 324/1: Mr. Biggs paused and turned the flesh of the succulent lobster over with his finger. The gentleman inside addressed him: ‘[...] Try er lobstaw, bossy?’ ‘Ain’t got no money,’ said Mr. Biggs, still fingering the morsels. ‘Oh, come now, none o’ that ere lallygag,’ responded the gentleman.
1914		G.A. England ‘Rural Locutions of Maine and Northern New Hampshire’ in DN IV:ii 76: lollygags, n. airs, affectations.

2. a courting couple.

1882

Nebraska Advertiser (Nemaha Co., NE) 29 June 7/2: There are several young lallygags here who will want to get married.

3. flirting, love-making.

1912		Tacoma Times (WA) 11 jan. 5/6: Why not do away with the ‘lallygag’ part of it [...] If you each love as you should to marry, you will be willing to wait.
1914		G.A. England ‘Rural Locutions of Maine and Northern New Hampshire’ in DN IV:ii 76: lollygags, n. [...] love-makin’.

4. a wastrel, an irresponsible person.

1915		Omaha Dly Bee (NE) 11 Nov. 6/5: The lallygag strolls down the road / That leads to Failureville.
1940		in DARE.