The origin of this phrase is that when a person can't satisfy his partner for some reason during the conjugal life, he will say "I'll go run a few laps to heat up the food for you". The expression carries a certain flirtatiousness, but at the same time it expresses love and concern for the other person.
It is important to note that this term is only used in jokes and banter between couples or partners, and should not be used in public or with unfamiliar people.