Here's what it actually means:
* "Don't be ridiculous!" or "You're kidding, right?"
* "Are you serious?"
* "That's crazy!"
* "No way!"
It's often used as a response to something unbelievable, surprising, or outrageous. It can also be used as a way to express disbelief, frustration, or anger.
Example:
"My car broke down again."
"No mames! That's the third time this month!"
It's important to note that "no mames" can be considered somewhat rude depending on the context and the relationship between the speakers.