Green’s Dictionary of Slang

missile n.

[its ‘explosive’ effects]

(drugs) phencyclidine.

[US] ‘Drug Sl. Vault’ on Erowid.org 🌐 Missile PCP. Missile Basing Crack liquid and PCP.

In compounds

missile basing (n.) [basing n.]

(drugs) a mixture of liquid crack cocaine and phencyclidine.

[US]ONDCP Street Terms 15: Missile basing — Crack liquid and PCP.
[US] ‘Drug Sl. Vault’ on Erowid.org 🌐 Missile PCP. Missile Basing Crack liquid and PCP.

SE in slang uses

In phrases

heat-seeking (moisture) missile (n.)

(US campus) the penis.

[US]Playboy Feb. n.p.: The pet name for his yang (Enormous Heat-Seeking Moisture Missile, etc.) and for her love glove (Alice, Gertrude and One Size Fits All) [HDAS].
[US]Eble Campus Sl. Fall.
[US]Eble Sl. and Sociability 71: The ‘penis’ is a heat-seeking missile.