one of many references the group makes to their Christian faith

He is speaking to the Post Traumatic Stress one of his friends is suffering following being shot. And also how the metal fragments of the bullet that are still left in his body. And when it gets cold it is very painful.

meaning he is verbally air-ing rappers out. Air-out is street slang for pulling out your gun in a party and making people run for cover http://www.urbandictionary.com/define.php?term=air%20it%20out

He feels the remedy to what’s wrong with the rap game is his crew We Be Foolish which he has cleverly laid out in an acronym in the above line
We Be Formin' Only Original Lyrics In Shapin' Hiphop

his dope rhymes are birthed through paradoxical situations aka Catch-22 http://en.wikipedia.org/wiki/Catch-22_(logic)

He saying mainstream artists careers are merely a quick sprint from point A to point B thus lacking longevity and range. He then cleverly spells out ATOM BOMB which is the impact he sees himself having on the game of rap. He then encourages the listener to always be quick to seek a deeper meaning to his lyrics for he does not merely write them he crafts them

sampled from a verse Phaorohe Monche spit on Stretch & Bobbito

scratched in

he had to peddle drugs on the street in order to finance his recordings

Broke meaning he teases that this girl is so unattractive it causes passersby discomfort and it should be illegal for her face to be seen by the general public.
With the next line he is implying that her head is so bald and smooth that it is transparent and one would be able to read her thoughts by merely looking upon it. It is also referencing the social stigma that African American women with little to no hair are unattractive. And in order to find favor with males they must perm,straighten or get a weave.