To leave quickly; light out: She took one look and hightailed for home
To speed; rush; highball: We better hightail it if we want to make the first show(1925+ Cowboys)
The Dictionary of American Slang, Fourth Edition by Barbara Ann Kipfer, PhD. and Robert L. Chapman, Ph.D. Copyright (C) 2007 by HarperCollins Publishers. Cite This Source
Idioms and Phrases with hightail it
Go as fast as possible, especially in leaving; rush off. For example, With the police now searching for them, they hightailed it out of town, or When Jane remembered it was his birthday, she hightailed it to the bakery for a cake. This expression alludes to the raised tail of a rabbit or other animal that is fleeing.
[ ; late 1800s