The use of "party" as a verb.

Sometimes. Sometimes it means having loud fun in a group of people. Sometimes it means hiring a prostitute. It’s all context.

If a male asks a female if she “likes to party” or if she "parties,"I usually associate that with as skeezy guy asking if she might be interested in doing drugs and sex with him. In other words, it is distinct from the context of “let’s party” expressed in the OP and other places. In this case (or one of the two), it’s nouning which weirds things, not verbing, sorry Calvin.

I want to party with you cowboy!

And right after that, the Grand Funk Railroad came into our town, and helped us party it down.

“Party on, Garth!”