What does IIT mean?
Is It Tight
Other definitions of IIT:
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How to use the term IIT:
There are no example uses of IIT at this time. We would greatly appreciate your contribution if you would like to submit your own!
More slang terms:

BRBBRB
Be Right Back, Bathroom Break

ROTBA
Reality On The Blink Again

C2TC
cut to the chase

LYSK
Least you should know