Vernacular commonly used by males, meaning, «I would NOT MIND having sexual relations with that woman.»
There's a
big difference between «I'd hit it..." and "I'd definitely hit it!"; same as between «I'd do her.» and «I'd definitely do her!»
The first sentence indicates that the person who is speaking is moderately interested in the woman in question. The second sentence indicates that the person is considerably interested in the woman, and might
swoop down for
the kill, if given the opportunity.