Etymology: I'd always assumed the word was some mash-up of "broil" and "roast", but I can't find any verifiable reference to back that up. The word was coined in the 1950s. Usually, chicken is the food being broasted.
Broaster is actually a registered trademark. To make true broasted chicken, one must use The Broaster Company's proprietary marinades and seasonings, follow prescribed instructions, and use a Broaster Company pressure fryer. The process is supposed to result in a moist chicken with a crisp coating, and the time to cook the chicken is reduced to roughly fifteen minutes.
The Broaster Company is headquartered in Beloit, Wisconsin, which is very near my home. Its logo is a chicken wearing a top hat.
It is possible but dangerous to use a regular pressure cooker to make "broasted" chicken at home, because it involves hot oil under pressure.