a clutch (as on the rear wheel of a bicycle) that allows wheels to turn freely (as in coasting)
source: WordNet 3.0
A clutch fitted in the rear hub of a cycle, which engages the rear sprocket with the rear wheel when the pedals are rotated forwards, but permits the rear wheel to run on free from the rear sprocket when the pedals are stopped or rotated backwards. Freewheelcycles are usually fitted with hub brakes or rim brakes, operated by back pedaling.
source: Webster 1913
verb
live unhurriedly, irresponsibly, or freely
My son drifted around for years in California before going to law school.
source: WordNet 3.0
coast in a vehicle using the freewheel
source: WordNet 3.0
Of a freewheel cycle, to run on while the pedals are held still.