ok forget that: heres what to do.
open a file in ps, type "sholay" with the appropriate font (i used the one Private_Ryan provided, thanks dude) and click on the "create warped text" icon circled in red in the screenshot.
these are the settings i used for the "warped text"
after pressing "OK" you have your warped text. then press "Ctrl+T" to go into free transform mode. this is where you go wild, drag and increase the height of the text layer, i also squashed it a little bit.
after you're done with that. click "Layer > Layer Style > Gradient Overlay" and click on the gradient which has been circled in red.
input these settings in the gradient box
then we add some drop shadow: check the image to see the settings i used.
theres the basic text done. now you click "layer>duplicate layer".
in the layer box, you'll see the duplicate layer. right click on in. and press "clear layer style", after that, right click on it, and press "rasterize layer"
after that is done, press Ctrl+I to invert text colour to white.
then, go to Filter> Texture > Stained Glass. dabble around in the settings to get a decent effect.
finally, change the blending mode to either "darken" or "multiply". see pic for reference.
and voila.