To hit and run in poker means to play a short session and leave immediately after winning a big pot, taking money off the table, and not allowing the losing player to recoup their losses.
While it is completely within poker rules in public games, hitting and running is considered poor etiquette, and it will not win you any friends at a table.
A good example of a hit-and-run would be a player sitting in a $2/$5 Texas Hold’em game with $500. After a couple of orbits, he ends up all in with another player. He has pocket queens against the other player’s AK, and the queens hold.
The winning player takes the pot, and after a couple of hands, he gets up and leaves with his $500 profit after playing only for 15-20 minutes. In addition to being poor etiquette, a hit and run can be really bad for a game, as a couple of players doing this can really ruin the mood and cause other players to switch tables or leave altogether.