What does it mean when you have air bubbles in your vagina?

Nothing bad: Although certain types of vaginal infections may create gases, the relatively large (in comparison to the urethra and rectum) vaginal opening may admit air during cleansing, wiping, intercourse, and tampon insertion.

Air or discharge: Not sure exactly what you mean. If you mean is it normal to pass a small amount of air from the vagina from time to time then the answer is yes. That is very normal. If you are passing bubbly discharge then that is not normal and may indicate an infection.