No, it means "Okay hit/slap me". The "그래" alone is "yeah/sure"

"때려쳐" has nothing do with "slap"or "hit". It's a slang and informal expression between close friends so you should be careful in saying "때려쳐" or 때려치우다." The basic form of "때려쳐" is "때려치우다" which means abruptly or unexpectedly abandoning something that someone is doing. If you are told this expression, the speaker might be really in bad mood for some reason. For example, when a boss hears a lot of complaint from their colleagues, he/she could say "If you guys can't stand any longer, quit your job" with anger. At this sentence,"quit your job" could be translated into "다 때려쳐". When we give up something with a bad reason, we say "~을 때려치우다." Therefore, "때려쳐" is the imperative sentence of "때려치우다" 학교를 때려치우다 give up going to school 사업을 때려치우다 give up running a business

It also depends on how you write it. 1. 그래. 때려. 쳐. = Okay. Hit me. Go ahead. 2. 그래. 때려쳐 = 그래. 때려치워 = Okay. Screw it then. - 때리다 = 치다 = hit/slap/beat someone. - 때려치우다 (그만두다 with a derogatory feel) = 때려-(prefix for "violently", "by beating") + 치우다(put it away) = quit, give up something abruptly; forget it; screw it. There are other cases of the prefix 때려. - 때려눕히다 - beat someone to the ground. These are similar compound word expressions. - 때려 부수다 - violently wreck or tear down something. - 때려 먹다 - gorge on a large amount of food. - 때려 박다 - drive something in (a nail, wedge, investment, etc) forcefully.

Please don't believe easily the answer of non native speaker. 그래 때려치워 is the correct spelling. It means Ok, throw up! 때려치우다 is a slang of meaning quit, throw up. it is often misspelled as 때려치다

때려치우다 : '그만두다'의 속어(slang for to quit) John: 나 회사 그만두고 싶어. 월급도 적고 직원들도 나를 심하게 대해.(I'd like to quit my job. It pays me so little and my coworkers are harsh to me.) Arya: 그래, 때려쳐!(Yeah, I agree with you. Quit/chuck the f***ing job!)