Learn English – What does “I know, right?” mean

There's a mishearing somewhere along the line. The expression is touch base.

The expression means to have [brief] contact with someone (to exchange news & views, or simply to remind each other that you still exist and have some kind of relationship). It derives from baseball, where the hitter has to actually touch each base as he runs round. The important thing there is that there must be contact with the base.

Baseball also gives us the expression touch all bases (more commonly, cover all bases), meaning to have a plan which covers all foreseeable eventualities. That metaphoric usage alludes to the fact that every base that's being passed must be touched.

Here's a brief summary of both usages

I don’t think it’s a regionalism. I’m from Tennessee and it sounds perfectly natural to me. And there’s evidence from the movies:

Nicky: [after being sick in Andy's face] I'm sorry. I'll still have sex with you if you want.
Andy Stitzer: That's OK.
—The 40-Year-Old Virgin

(Of course, real people don’t talk like movie characters, but here the joke only works if the audience understands “That’s OK” the way you and I do.)

Apparently Canadians say it too:

Bob: Sorry I ralphed, Pam.
Pam: You shouldn't have had that chocolate milk.
Bob: I know. Sorry about your sweater. You can take it out of my pay if you want.
Pam: That's OK.
Bob: Geez, you're real nice. If I didn't have puke breath I'd kiss you.
—Strange Brew

It might be a North Americanism, I guess, but I suspect it’s not even that, just the sort of counterintuitive idiom non-native speakers naturally have trouble with.