jacked means robbed in this context. Busted is referring to getting caught by the police. this sentence is someone telling the weed dealer he didn't get caught by the police, he just got robbed. I would say it is a pretty common slang term actually. At least where I'm from. I would guess you got that quote from Weeds on HBO?

This is a tough one. If she had been tricked, the word would have been "jerked" as in "jerked around". The slang term "jacked" can refer to "hijacked" or stolen. "Jacked up" means too excited. Do you have any context?

Jacked is not common in its usage here...It basically comes from the expression "to be jacked around"....that means to be screwed, double crossed, or something like that....It implies that he was screwed out of getting something....