The Collaborative International Dictionary of English v.0.48:

Lace \Lace\, v. t. [imp. & p. p. Laced ([=a]st); p. pr. & vb.
   n. Lacing.]
   1. To fasten with a lace; to draw together with a lace passed
      through eyelet holes; to unite with a lace or laces, or,
      figuratively. with anything resembling laces. --Shak.
      [1913 Webster]

            When Jenny's stays are newly laced.   --Prior.
      [1913 Webster]

   2. To adorn with narrow strips or braids of some decorative
      material; as, cloth laced with silver. --Shak.
      [1913 Webster]

   3. To beat; to lash; to make stripes on. [Colloq.]
      [1913 Webster]

            I'll lace your coat for ye.           --L'Estrange.
      [1913 Webster]

   4. To add something to (a food or beverage) so as to impart
      flavor, pungency, or some special quality; as, to lace a
      punch with alcohol; to lace the Kool-Aid with LSD. [Old
      Slang]
      [1913 Webster +PJC]

   5. To twine or draw as a lace; to interlace; to intertwine.
      [Webster 1913 Suppl.]

            The Gond . . . picked up a trail of the Karela, the
            vine that bears the bitter wild gourd, and laced it
            to and fro across the temple door.    --Kipling.
      [Webster 1913 Suppl.]

The Collaborative International Dictionary of English v.0.48:

Lacing \La"cing\ (l[=a]"s[i^]ng), n.
   1. The act of securing, fastening, or tightening, with a lace
      or laces.
      [1913 Webster]

   2. A lace; specifically (Mach.), a thong of thin leather for
      uniting the ends of belts.
      [1913 Webster]

   3. (Naut.) A rope or line passing through eyelet holes in the
      edge of a sail or an awning to attach it to a yard, gaff,
      etc.
      [1913 Webster]

   4. (Bridge Building) A system of bracing bars, not crossing
      each other in the middle, connecting the channel bars of a
      compound strut. --Waddell.
      [1913 Webster]

   5. A quantity of a substance, such as an alcoholic liquor,
      added to a food or a drink; as, punch with a lacing of
      rum.
      [PJC]

   6. A beating, especially with a lash.
      [PJC] Laciniae

WordNet (r) 3.0 (2006):

lacing
    n 1: a small amount of liquor added to a food or beverage
    2: a cord that is drawn through eyelets or around hooks in order
       to draw together two edges (as of a shoe or garment) [syn:
       lace, lacing]
    3: the act of inflicting corporal punishment with repeated blows
       [syn: beating, thrashing, licking, drubbing,
       lacing, trouncing, whacking]

Moby Thesaurus II by Grady Ward, 1.0:

254 Moby Thesaurus words for "lacing":
   adulteration, anchor, arabesque, band, bandage, bar, barrette,
   basketry, basketwork, bastardizing, bastinado, basting, battery,
   beating, bellyband, belt, belting, bind, binding, binding stone,
   binding twine, bobby pin, bollard, bolt, bonder, bondstone,
   box hook, brace, braces, brad, braid, braiding, buckle, buffeting,
   button, cable, cancellation, caning, carpet tack, catch, catgut,
   chain, cinch, cincture, clamp, clasp, cleat, click, clinch, clip,
   clothespin, clubbing, contamination, corking pin,
   corporal punishment, corruption, cotter, cowhiding, cross-hatching,
   crossing-out, cudgeling, cutting, debasement, dilution, doctoring,
   dowel, drubbing, enlacement, entwinement, entwining, fabric, fast,
   fibula, filigree, fillet, fishhook, flagellation, flailing,
   flogging, fortifying, fret, fretwork, funiculus, fustigation,
   garter, girdle, girth, grab, grapnel, grappler, grappling iron,
   grate, grating, grid, gridiron, grille, grillwork, gut, guy,
   hachure, hairpin, hamstring, hank, hasp, hatching, hawser, haywire,
   hitch, hitching post, holdfast, hook, hook and eye, horsewhipping,
   inkle, interknitting, interlacement, interlacery, interlacing,
   interlocker, intertexture, interthreading, intertieing,
   intertwinement, intertwining, intertwisting, interweavement,
   interweaving, kevel, kingpin, knitting, lace, lacery, lacework,
   lariat, lashing, lasso, latch, latchet, lattice, latticework, lead,
   leader, ligament, line, lock, loop, mesh, meshes, meshwork,
   monofilament, moorings, nail, net, netting, network, noose, nut,
   padlock, paper clip, pawl, peg, pin, pintle, pistol-whipping,
   plaiting, plexure, plexus, pollution, raddle, rawhiding, rein,
   reticle, reticulation, reticule, reticulum, riddle, ring, rivet,
   roller, rope, safety pin, scourging, screen, screening, screw,
   seal, sennit, setscrew, shoestring, sieve, sinew, skewer,
   slide fastener, snap, snubbing post, spanking, spike, spiking,
   splice, staple, strap, strapping, string, stripes, strop,
   stub tenon, suspenders, swingeing, switching, tack, tag, tendon,
   terret, texture, thew, thole, tholepin, thong, thrashing,
   thumbtack, tie, tie beam, tissue, toggle, tracery, treenail,
   trellis, trelliswork, trouncing, truncheoning, tug, twine, twining,
   twisting, vise, warp and woof, warpage, watering, wattle, weave,
   weaving, web, webbing, webwork, weft, weftage, whang, whipcord,
   whipping, wicker, wickerwork, wire, wreathing, zipper