I would not call this one slang as it is basically a literal translation. In general it means to keep going when you have no energy left. It broadly comes from engines that ran on vaporous fuels; piston engines and the such. Most fuel tanks that hold liquid fuel have some sort of a float which reads the level, the phrase comes from the idea of running the tank "dry" or empty to the point where the float bottoms out (or reads empty) but the engine still runsthe phrase comes from the idea of running the tank "dry" or empty to the point where the float bottoms out (or reads empty) but the engine still runs. Its based on the loose idea that the free area in a fuel tank is filled with vaporous fuel and you could run the engine on the vapors at the end of your fuel tank since the final step of most fuel systems is to vaporize or atomize fuel anyway.