Green’s Dictionary of Slang

whip off v.

[whip v.1 (1)]

1. [late 17C–early 19C] (also whip away) to drink greedily.

2. [late 17C–18C] (UK Und.) to steal.

3. [late 18C+] to run off.

4. [20C+] (US campus) to masturbate.