bust out the guillotines

A reference to the French revolution, in which many members of the "Upper" class were executed with a device(the guillotine) that beheaded(removed the head) the person. It was said to be more humane than hanging or beheading by ax, as it was a quicker death. There are reports that the heads appeared to still be alive for a short time after the process, but this is difficult to confirm in laboratory conditions.

The phrase may also be a reference to a popular college drinking game, in which a person lays on their back, and an alcoholic beverage is poured from a height into their mouth. The goal of the game is to consume the drink while spilling as little as possible. Traditionally the game uses a red beverage, with the spillage resembling blood in the streets, reminiscent of the tales of Paris in the French revolution.