How to make a custom object "chrome" or Transparent?!

[Mudbill]

For the chrome thing, I'm pretty sure you gotta play with spec and illum maps. Those will act as filters to your textures which can make them shine and reflect in special ways.

As for transparency, create an alpha channel that is not completely white, depending on what you want. Then, open the .mat file with the material editor and set the type to Translucent and set the blend mode to Alpha. Just bear in mind you can not use translucency and opacity on the same texture; they must be separate materials or they will look odd.