To have a bit of a ding-dong
Is this expression a euphemism for having sex?
Can it be another way for saying to have an argument or a fight?
How about to do something noisily like drill a wall?
I'm trying to ask how definite\vague this expression is?

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This phrase is not used in US English.
If you did happen to use it in the US, the listener would probably think you just ate part of a small snack cake that is made by Hostess Brands cakes.  See:
http://en.wikipedia.org/wiki/Ding_Dong

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To have a bit of a ding dong is to have a fight, verbal or physical. This is the only meaning of the phrase.

The exclamation "Ding dong!" maybe used when attractive person is seen, "Phwoar!" would be a more modern equivalent.

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The only way I have ever used this expression is when people are arguing and shouting. As in, "My neighbours were having a bit of a ding-dong but somebody called the police and they quickly shut up!!"

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Thanks everyone !