Snarf:[snarf'] to project liquid from the nose, usu. a beverage, when laughing unexpectedly.
As far as I know there is no other word for said phenomenon. We are trying to get this used widely enough that it makes it into the dictionary. Some people have nobler life goals than others...
No kidding, Monkey?! (and welcome back, BTW). One of our favorite family stories around here is when I got my wife to blow beer out her nose...my oldest son comes close to snarfing himself whenever he thinks about it, which is usually when he's drinking soda...