we have the word /libagioni/ (only plural) that means /a lot of drinks/. We don't have the verbal voice 'libiamo'. We use to say 'beviamo'.

Thanks

Libations

The word "libare" exists in italian: http://dizionari.corriere.it/dizionario_italiano/L/libare.shtml There is also a very famous "opera": https://it.wikipedia.org/wiki/Libiamo_ne'_lieti_calici where they use the expression "libiamo". Of course it is an old fashioned word, at any rate, there is an English word for this: to libate, to make a libation to - that is the exact translation.

Never heard libiamo in my life. Let's drink means beviamo or if you want to emphasize it, you can sai, forza/dai, beviamo. You spelled allora wrong; it is allora. Another way of saying let's drink could be: fare un bicchiere (with fare reflexive "farsi) Let's drink = facciamoci un bicchiere This is an informal way of saying let's drink and it is often used in the Lazio region where I am from.