Okey dokey is meant to convey approval but the addition of smokey adds a new connotation. It means, Ok, pothead (or anyone "smoking" something), got it, you're a stoner.

I hear and obey, my good man.

noun

A phrase used by people who feeling extremely nervous to describe the fact that they are not extremely nervous.

The conjoined twin of "okey dokey artichokey" that didn't make it

An adjective used to describe an awesome insurance program, such as Progressive's "name your own price."

To participate in a two man wheel barrel maneuver where one man is pushed sitting in the wheel barrel while holding shotguns (or other firearms) shooting zombies while the other pushes them to safety.

okey dokey diet(/lemon) cokey - meaning OK
used by someone that accepts that by saying it they are in fact an epic douche.