whipping

1. The act of one that whips.
2. A thrashing administered especially as punishment.
3. Material, such as cord or thread, used to lash or bind parts.

noun

1. A punishment dealt with blows or lashes: beating, flogging, hiding, lashing, thrashing. Informal trimming. Slang licking. See attack/defend, reward/punish/deserve.
2. The act of defeating or the condition of being defeated: beating, defeat, drubbing, overthrow, rout, thrashing, vanquishment. Informal massacre, trimming. Slang dusting, licking. See win/lose/recovery.

The noun has 4 meanings:

Meaning #1: beating with a whip or strap or rope as a form of punishment
  Synonyms: tanning, flogging, lashing, flagellation

Meaning #2: a sound defeat
  Synonyms: thrashing, walloping, debacle, drubbing, slaughter, trouncing

Meaning #3: a stitch passing over an edge diagonally
  Synonyms: whipstitch, whipstitching

Meaning #4: the act of overcoming or outdoing
  Synonym: beating

The adjective whipping has one meaning:

Meaning #1: smart and fashionable
  Synonym: snappy