Green’s Dictionary of Slang

(US campus) to swerve and weave usu. when drunk or drugged.

1972		Ogden Standard-Examiner (UT) 18 Apr. 15/2: [advert] Truck Tire Specials, [...] ‘Sweave’ is that camper sway and weave that can be a family killer.
1981		Eble Campus Sl. Fall 7: sweave – blend of swerve and weave.
1996		Eble Sl. and Sociability 38: Although blends are fashionable in the marketplace, college slang makes little use of this process of word formation, with only about a dozen examples collected since 1972: [...] sweave (swerve + weave).