Adjective. To be extremely excessive in partying, alcohol, sex, spending money, or texting/blackberrying, especially in combination or all at once. Can be used anywhere you'd normally say "crazy" but with extra emphasis.
Alice: Dude, you look like you haven't slept in days. What happened?
Bob: Oh man... I went ty crazy last night. I was at this bar, and there were strippers and body shots and my ex was sexting me to come over and then it all gets fuzzy. I think I blew $400 on drinks and lap dances. Ugggggh.