This appears to be a non-standard or invented word; it may be dialectal, archaic, or a variant of 'flip.'
Possibly a variant or dialectal form of 'flip,' but 'flipe' does not appear in standard English dictionaries with independent definition.
English has so many regional variations that some old dialect words like this vanished before dictionaries could catch them—they're like linguistic fossils waiting to be rediscovered.
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