The highest state of consciousness. One step above being the shizznit or "the shit." People who are the shizznitty are often characterized by their stunna' shades, Tyler Durden-esque goatee, spiked (but never frosted) hair, semi-retro dress style, and propensity for drunkenness, all of which exponentially contribute to their rockstar persona. To qualify for shizznitty status, one must be of substantial intelligence. Having your own gat is a plus.
You see that guy over there looking like a reincarnation of Hunter S. Thompson but with hair? Yeah, the one with the angry expression of hatred toward the world and the swine around him... He's the shizznitty!