it's hard to effectively parody gangsta rap, since much of it is so awesomely extreme and comical in its own right (, anyone?). still, in the late '90s, managed to make some pretty hilarious stuff. my favorite hawd gankstuh rappuhs track is "masters of the universe", from the compilation . highly recommended if you love LOLing.
update: also check out "three wrongs," which features the incredible line: "i bodyslam a sasquatch / make your mom watch / i'm just the type of sniper to wipe the contents of my diaper on the keys of your typewriter."