It's a combinition of the word Smashed and Chiseled meaning to smash someone so hard they will feel as though they have been chiseled.
Smee: Wigan are gonna get smached here in the second half
Antony: Smashed**
Tom: Nooo! Smached, bitch.
Antony: Smashed**
Tom: Nooo! Smached, bitch.
by Houghton91 August 09, 2012