Green’s Dictionary of Slang

chip v.3

[ety. unknown; ? link to UK dial. chip, to step down or to SE ship out, to leave]

1. (orig. UK black) to leave, to depart, to go somewhere.

[UK]R. Hewitt White Talk Black Talk 129: chip – to take one’s leave.
[UK](con. 1979–80) A. Wheatle Brixton Rock (2004) 52: What happened to my paps? [...] I bet he chipped.
[UK]B. Hare Urban Grimshaw 73: Come on, Chop [...] We have to chip, quick time, before the scuffers come.

2. (W.I., Trin.) to move and sway in time to music.

[UK]R. Antoni Carnival 155: Pushing the cart, we walked. Chipping in time to the soca. [Ibid.] 164: All two thousand of us, chipping together to the soca.