Te tiemblan las chichis

This is a classic expression that would show your DF friends you are on top of your Chilango slang. The expression te tiemblan las chichis (teh-tee-em-BLAN lass-CHEE-chees) literally means "your boobs shake." One's boobs shaking is a sign of fear. Thus, the expression means "you are afraid." It is typically used when challenging a buddy to misbehave. The challenged buddy is not likely to be afraid of the misbehaving itself but of the possible repercussions.

Carlos José: ¡Vamos al pelódromo! ¿O qué, te tiemblan las chichis?
Luis Augusto: Para nada. Vamos. Yo invito la primera ronda de privados.

Carlos José: Let's go to a strip club! Or, are you afraid?
Luis Augusto: Not at all. Let's go. I'll buy the first round of VIP private lap-dances.

Teibolera

In Mexico, a female model who strips and lap-dances is known as teibolera (table-EH-ra), which comes from the English term table-dance. When a woman who does not strip is said to look as a teibolera, it means that that such woman looks sexy yet vulgar.

Chano: ¿Quién es la teibolera que llevaste al bautizo?
Chon: ¡Es mi hermana, pendejo!

Chano: Who is the lap-dancer that you took to the christening?
Chon: ¡She's my sister, you moron!

Pelódromo

In Spanish, the place where horses race is an hipódromo. The place where dog races are held is a galgódromo. The place where bicycle races take place is a velódromo. Ok, you get the idea. Then, in Mexico City, the place where models strip, showing pelos (hair, but in this specific case pubic hair) one after the other on a catwalk is a pelódromo. In other words, pelódromo is a terrible yet very funny euphemism for a strip club.

Lo cortés no quita lo Cuauhtémoc

If you use this expression you will suprise Chilangos in a good way. The expression is the result of a twist to the classic saying lo cortés no quita lo valiente (being corteous doesn't make you less brave). Cortés (corteous) is also the name of the conquistador that took over Tenochtitlan (Mexico City). Cortés captured Cuauhtémoc, the last Aztec emperor, and tortured him.

The expression lo cortés no quita lo Cuauhtémoc means that being well mannered does not make you more civilized, since from the conquistador's perspective Aztecs were not civilized. That's very ironic given that it was Cortés who tortured Cuauhtémoc trying to get information about an nonexisting treasure.

Barcelona

Chilangos' fascination with colorful and rather unnecessary expressions is evident in the way they refer to pregnancy. In Spanish, a pregnant woman está embarazada. However, what you'll most likely hear on the streets of Mexico City is that a woman está en Barcelona, está en barandales, or the like. Notice that the colloquial expressions are used in the third person only. It'd be rude to tell a future mom that she is in Barcelona.

Me late

Me late (me-LA-teh) is a term heavily used in two expressions. First, me late que is used to denote a hunch. Second, me late is used in reference to a person or object that makes one's heart beat, that one digs.

Manolín: Me late que la Selección se la va a pelar con su similar de Trinidad y Tobago.
Chilinsky: ¿Y a mi qué? A mí ni me late el pambol.

Manolín: I have a hunch, the national soccer team might be defeated by Trinidad and Tobago's.
Chilinsky: So what? I don't care about soccer.

Abaratar

Abaratar (ah-BAR-at-AWR) literally means to make something less expensive. On the streets of the most polluted city in the world (Mexico City), abaratar means to take advantage of someone through physical violence or the threat thereof, to bully.

Unfortunately, you will most likely hear of somebody that was abaratado rather than from somebody who abarató another person:

Fulano: Dos culeros me abarataron al bajar de la micro.
John Doe: Two jerks theatened me and took advantage of me as I stepped off the bus.