A reference to the card game known as "Spades" -- where the spade suit is the deck's most powerful -- this line is suggesting that MCs lacking any power moves (metaphorically, "spades") should just give up.
My henchman will pursue you relentlessly and will wait for you all night long if necessary. Once they find you, a bullet to your cerebral cortex will splatter grey matter on your clothing.
three dice cee-lo and three card monte are both illegal betting games commonly played on the street in underpriviledged urban areas , Jay-Z is referencing in this song that even tho he is wipes his ass with $100 bills now, he is from "the streets".
Next line continues with a metaphor with similar meaning as those two (and also with an alliteration): "O's to opposite", in which O's mean ounces in relation to drugs.
Remember the next lyric in the song is: "If your a gangster then this is how you prove it to me...Just get violent". Jay is saying to Prodigy, who he has had beef with, prove your still a gangster, talking about hanging in the PJs doesn't make you tough.
....Mobb Deep is of course famous for their rough, gangster rap style which no longer the style of hip-hop. Jay's point is, although he is from the Marcy Projects, he no longer needs to talk about it. On the other hand, Mobb Deep has not stopped doing so.