I would do it like this:
1) Write text onto new layer - Text1
2) Duplicate Text1 - text 2- and put Text2 on top
3) Add drop shadow to Text1
---- Opacity - 100%, distance - 0, spread - 100%, Size - Size of chrome border (10)
4) Create new layer below Text1 and merge Text 1 into new layer (to rasterize the drop shadow) and rename to Text1
At this point you should have two layers Text 2 should be on top of Text 1 and Text 1 should have a black border around it 10 pixels wide
5) Select Text1 (ctrl+left click layer) and replace it with a black to white Gradient originating in the middle and going outward on an angle in both directions
6) Press ctrl+M (image>adjustments>curves) and make it look like this:
The end result should have a sort of chrome appearance. You can tinker with the Curves to get the right effect.