Step One
First, let's make the wall first. To do that, make a new document with any size.
Step Two
Fill your document with the color #CC0000. Now, go to Filter>Texture>Texturizer and use the settings below:
Step Three
Aight, you have your wall now, let's write on your wall. Okay, what you need now is a graffiti font. I will use the font below. You may download it from here.

Step Four
Now type anything with a graffiti font go to Layer>Layer Style>Stroke and use the settings below: Step Four
Again, go to Layer>Layer Style>Gradient Overlay and use the settings below: And yay, you have your graffiti text. Actually, photoshop doesn't do much here. The font does all the job. Anyways, here's what I came up with,