boogaloo is mostly a joke; it basically means end-times actions. However, there are a few on the far right who do believe it's real, now, and must be acted upon.
An example of the joke: Whenever some politician makes an anti-gun comment, a popular joke in response is, "It's boogaloo time." Obviously nobody plans on escaping into the Rocky Mountains with weapons and survival gear to wage guerrilla war, but joking about it is funny.