Green’s Dictionary of Slang

(US) to drive or go at top speed.

1968–70		Current Sl. III–IV (Cumulative Issue) 69: Honk, v. To go fast (in car) [HDAS].
1974		J. Scalzo Stand on the Gas! 154: Listen, you dumb bastards, I warned you about going honking into that corner like that [HDAS].
1984		J. Trotti Phantom 70: OK, Asp, nose to the horizon and honk it on! SAMs in the air at four and seven [HDAS].
1990		P. Dickson Slang! 29: Boy, was I honking!