Let's skip this joint, or what I hear more often, "Let's blow this joint" is slang for "let's leave this place". It's a little bit humourous with the implication that the place is somehow no longer good.
But also, 'skip', depending on the context, can mean pass by, don't enter, don't go. etc. .... The general idea is to not do something. "I skipped class today"; "I skipped those parts the book"; "If I were you, I'd skip that movie"; "I'm sorry. I skipped the part where I'm supposed to apologize" ...and so on.