Green’s Dictionary of Slang

chips n.2

[? SE chip, buffalo dung]

(US) the buttocks.

[US]H. Selby Jr Last Exit to Brooklyn 28: I had a couple a sweet kids but they didnt have chips like this, patting her again on the ass.
[US]B. Rodgers Queens’ Vernacular.
[US]R.O. Scott Gay Sl. Dict. 🌐.