The universal signal given by a friend/acquaintance when they've screwed up or broken the law in such an irreconcilable manner that the best solution is to leave town together. "Pack your shit" is
the frantic and
imperative way of instructing to pack a suitcase of clothes and
essentials.
Person A: "Pack your shit!"
Person B: "What? Why?"
Person A: "I just killed a
hooker!"