My Life Your Entertainment

Paper Trail T.I.
I think in the context of the song, T.I. is actually expressing his frustration towards people who previously disrespected him and want to pound fists (like a handshake), which T.I. would have to be senile (crazy) to agree with.
ms. d-dizzle
a reference to wanting a large quantity of marijuana. the subject's desire is compared to that of a person who has developed glaucoma from senile cataracts (medical marijuana could be prescribed for this condition to reduce pressure and pain in the eyes)
DJ Drama has a song called "Feds Taking Pictures", so T.i. is making an reference to this
to elaborate on a previous explanation, the association with being "up in lights" to fame is that theaters and concert venues often have the featured act's name on a brightly lit sign or "marquee" to promote the artist and attract a crowd
i am very famous
T.I. is comparing the life full of drama and court cases, to Tupac's very similar life in and out of court. The striking similarities make it seem as if Tupac was never murdered.
vicariously (def): serving instead of someone or something else. In this case, to enjoy life through the experience of the rapper because his life is so wonderful.
this means T.I. has spare cash hidden in the sock drawer of his dresser equal to the amount of money you make in an entire year, so he's basically saying he's extremely rich and, in comparison, your yearly salary is nothing