You know they have their own language today. I pick up on some of the meanings every now and then since I have a teenage daughter who was in the marching band in high school which I worked and chaperoned quite abit.
Phat = fine (as in that girl is fine)
shorty = girl, girlfriend
ice=jewelery
holla=see you later
crunk = like really jamming
But as far as the lyrics of that song, I'm just as lost as you. It sounds as if they are rapping about the making of their present and future music which is what a lot of rappers rap about.
My daughter just called me from college and I asked her what is the meaning of the lyrics of this cut and she replied that she did not know and half the time she does not know what the meaning of the lyrics are. She is 19 years old. So go figure.
Hey is the crunk spellchecker noncrunked?
I love being a middle-aged white guy who can instruct a black woman such as yourself on the more subtle points of rap speech. :o)