Definitions for face time
Random House Webster's College Dictionary
a brief appearance on television.
a brief meeting, esp. with someone important.
a face-to-face meeting with a person one knows only from phone conversations, e-mail correspondence, etc.
Origin of face time:
Time spent in visual communication with another party, instead of texual communications such as e-mail or IRC
Origin: By analogy with English “quality time”
The New Hacker's Dictionary
[common] Time spent interacting with somebody face-to-face (as opposed to via electronic links). “Oh, yeah, I spent some face time with him at the last Usenix.”