Relates back to the previous line, in which “fooling” meant trumping in worth. He is saying that financially he couldn’t pass anybody, because he is in financial debt (TRUE).

“Red ring of death” is known for breaking XBOX consoles, which ends games.. “game over”

He was looking for divine intervention to help him out of his struggles… “A Jack could never fool a king”, referring to a game of Poker, in which the Jack’s worth is always less than the Kings'

He used to have a reputation as being the good kid, but now all of his old friends look down at his new habits

He is inferring that smoking weed made writing a lot easier, and healed his writer’s block (TRUE)

If a rapper is not close to the level that Entourage is at, they will get passed, smoked, butt-ed, and ashed (basically, they will get taken out)

He wants to give his fans something nice to listen to, so they’ll continue listening. God knows Entourage (his rap group) will last a very long time (“light years”)

“Stage lights and mirrors” referring to the reflecting he does late at night.

“Crossing the plate” meaning coming home, and “like Rivera’s” referring to a Mariano Rivera pitch, whom is notorious for his ability to hit the strike zone