What does "do" refer to here? And what's "may as well"? How do you use it?
"Do it" here refers to "dying", which is previously mentioned. He is saying that they should "die", as in fake their deaths, while they are "alive". "May as well" here is a phrase used to indicate that something should happen because the outcome will be the same whether it happens or not. For example in this scene, he is saying they should "die" now because they will die someday. "May as well" can also be used to make a casual suggestion. Ex: I have a lot of work I need to finish by Sunday night. Even though it is Saturday, I may as well complete my work now. Ex: We're not doing anything today, so we may as well go shopping.