Okay people, this is my second tutorial, omigosh!!! While I was just messing around in Photoshop, I discovered a fairly simple process to get a nice effect. Remember, results vary.

Ok, first of all make a new document with the size of 500 by 500 pixels.
(IMG:http://img107.exs.cx/img107/9373/r1k1.jpg)

Now, look at your toolbar, then choose the gradient tool.

After doing that you'll need to change the MODE of the gradient to Difference.
(IMG:http://img121.exs.cx/img121/8058/n5a2.jpg)

Now, click and drag DIAGNALLY across the screen, from upper left to lower right, and lower right to upper left until you end with something kinda like this.
(IMG:http://img121.exs.cx/img121/9003/n5f3.jpg)

Now press Ctrl+J three times, to duplicate your layer 3 times. Now look at your layers window, then choose the very top one.
(IMG:http://img121.exs.cx/img121/8513/h5m4.jpg)

Now go to Filters -> Sketch -> Chrome
Use these settings...
Detail - 4
Smoothness - 7

Now choose the layer below that, and Filter -> Distort -> Wave, then click Randomize.
Now choose the layer below that one and use Filter -> Distort -> Wave, and click Randomize again.

Now choose the top Chrome layer again, and set the layer mode to Multiply.
(IMG:http://img117.exs.cx/img117/5756/q7e5.jpg)

Then choose the layer below that, and set layer mode to soft light.
Then choose the layer below that, and set layer mode to soft light also.
Now choose the top layer again and then press Ctrl + E Twice to merge all the layers. Then you need to press Ctrl+U to change Hue/Saturation. Check the Colorize box and play around with the levers to get the color you want. I left mine default(red).
(IMG:http://img117.exs.cx/img117/3829/z6q6.jpg)

And your done!! =) If it looks too dark, choose the bottom layer and use Ctrl+U and play around with that until you get it to look nice.

This is what I came up with.
(IMG:http://img117.exs.cx/img117/5091/q9sfinal.jpg)