The first part is just a kid being exited for a game.

Second part is him using shirt as a filter for the aerosol can so he could get high of the gas.

Third part, because of being high and having problems at home, he then released some energy by damaging school property.

Were you in middle/high school at the turn of the millennium? Because this didn't just draw a mental picture for me, it brought back memories.

hotbox the BO

Shirt presumably already on his body, he put his face in the gym shirt, put the axe in the gym shirt and then sprayed, huffing the sharp smell, like he was getting high

It's ambiguous. It could very well be that his body spray and shirt are in a little heap on the floor somewhere while he is topless and taking a big deep gulp of plain ol' locker room air.

He is wearing the shirt, pulls his head inside like a turtle, and sprays the axe deodorant spray inside (presumably from the bottom opening).

You build a little tent with your gym shirt, spray it full of delicious Axe body spray aerosol so it's nicely contained in said little fabric tent. Continue by poking your head into the tent and inhale deeply.

For related experiences, see:

https://www.urbandictionary.com/define.php?term=Dutch+oven

and, of course