To keep one's anger and excitement under check; be calm: Take it easy, Mac, nobody's hurt
To work slowly and smoothly: Hurry and you're dead, take it easy and you survive
To stop working; relax; loaf: I got to take it easy for a few minutes
[1880+; take it easy is most often used as a parting salutation or a bit of advice for living, in each case intending all senses at once]
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 take it easy
Don't hurry, proceed at a comfortable pace, relax. For example, Take it easy—we don't have to be there till noon, or Bruce decided to take it easy this weekend and put off working on the house.