The Brief: Tripping is a slang term that means "freaking out" about something. It can also refer a state of mind when someone is under the effects of drugs.

DEEP DIVE
When used as a slang term, Tripping, or Trippin’, means to freak out or act crazyΒ about something.
Is anyone else Facebook & insta tripping?
— Imaslayyobae π°ππ½ (@Jaz_Minne__) March 13, 2019
You tripping over something that someone canβt even tell you in person? Oh no sis, I could never!
— Tazzita de βοΈ (@TazzyJaramillo) March 13, 2019
Tripping is also used to reference a state of mind that someone might experience while on drugs like shrooms, ganja, or Molly.
One can experience a “good trip” or a “bad trip” while on drugs, but both experiences usually involve hallucinations or a sense of euphoria.