Plain English Meaning
A descent where you keep the airplane at one set speed the whole way down. You pick the speed, then adjust the nose so the speed stays the same. The rate at which you lose altitude is whatever it ends up being.
Full Definition
A descent flown by holding a chosen airspeed constant while allowing power and pitch to determine the rate of descent. The pilot reduces power, lowers the nose to maintain the target airspeed, and accepts whatever vertical speed results from that combination.
Context Anchor
Seen in instrument flying when practicing straight descents, especially while using the to a chosen airspeed during altitude changes.