The Collaborative International Dictionary of English v.0.48:

Carousing \Ca*rous"ing\, a.
   That carouses; relating to a carouse.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Carouse \Ca*rouse"\, v. i. [imp. & p. p. Caroused; p. pr. &
   vb. n. Carousing.]
   To drink deeply or freely in compliment; to take part in a
   carousal; to engage in drunken revels.
   [1913 Webster]

         He had been aboard, carousing to his mates. --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

carousing
    adj 1: used of riotously drunken merrymaking; "a night of
           bacchanalian revelry"; "carousing bands of drunken
           soldiers"; "orgiastic festivity" [syn: bacchanalian,
           bacchanal, bacchic, carousing, orgiastic]