It’s just a reference to this 80’s film title, “Breakin 2: Electric Boogaloo”: https://m.imdb.com/title/tt0086999/

I’ve never even seen the movie, but I’ve said the thing. It just comes easy because boogaloo and two rhyme so well, so it caught on a s a meme. People have been making that “joke” for over 30 years