I don't know how to do the shiny foil on t-shirts, but CBGB's stands for Country, Bluesgrass, and Blues -it is a famous punk club in New York City. OMFUG stands for: Other Music For Uplifting Gormandizers.
a famous punk club. I heard that it closed.
I'm not really sure, but I think that's screenprinted. Maybe with metallic ink?