Text by ScoobSti - Found here
The result of losing control while operating a motor vehicle, causing it to spin wildly out of control and into a ditch, sometimes upside-down.
Term originally coined on Jalopnik's Oppositelock forum, in regards to author Raphael Orlove losing control of his car and flipping it into a ditch.
Raphael Orlove: "Hi, I need to report an accident."
Insurance Company: "Hello, I'm sorry to hear that. What happened?"
RO: "Um, I Orlove'd my Baja Bug."
For those unfamiliar with the origin.