Green’s Dictionary of Slang

1. nipples.

1990

S. Morgan Homeboy 84: The way you handled that [...] got my jalobies harder n jawbreakers.

2. (also jeloobies) the female breasts.

2003		www.pistonheads.com 24 Oct. 🌐 Jumper bumpers, hooters, baps, Bristol Cities, boulders, knee warmers, breasty dumplings, boys'toys, jugs, jaloobas.
2007		ladysinger.blogspot.com 2 July 🌐 This is where they take fat from your ass [...] stick it in your boobs and lo and behold - skinny ass, big jaloobas.
2009		rule34.paheal.net 18 Nov. 🌐 Anonymous: Ooo, Sam with jeloobies…!