Green’s Dictionary of Slang

fang v.2

[abbr. of proper name of the Argentine racing driver Juan Fangio (1911–95)]

1. to drive fast; also as n.

[Aus]A. Buzo Front Room Boys Scene i: I’d be down by the pool or out for a fang in the Jag.
[Aus]A. Buzo Rooted I iii: Let’s hop in the B and fang up to the beach.
[Aus]Bulletin 10 Nov. 43: We pick up sheilas, get drunk, steal cars, fang ’em (drive them fast) [...] anyfink!
[Aus]National Times 14 Sept. 14: They’ve had half a dozen drinks and, you know, they want to impress the girls and their mates at how fast they can fang their car around the corner [GAW4].

2. to do something fast, to send something quickly.

[Aus] Sydney Morning Herald 29 Apr. 20: He fanged a fax to Quentin Dempster of the 7.30 Retort [GAW4].
[Aus]N. Cummins Tales of the Honey Badger [ebook] I was fanging three items per second through the till.