A flotation vest kept handy especially by navy pilots in WW II in case the need to ditch into the ocean arose. Named in honour of the uberboobed actress.
(n)A parachuting malfunction more officially called a lineover, in which a line crosses over the top of the parachute, dividing the canopy into two parts. The result resembles a giant bra; hence the reference to the well-endowed late actress.