To be caught in the crossfire meant for someone else. The target isn't you but you can still have pieces "chipped off" by gunfire (specifically) or unintentionally caught up in a beat down meant for someone else.
"Don't get chipped" - V. Staples basically means mind your business and do your thing. Don't mingle with people who could get you hurt or messed up.
"hey, I heard Ronnie snitched. Don't hang around him for a while. People might be looking for him and you don't wanna get chipped."