It means love, but in a different kinda way. It refers to someone close to you, a friend, a family member who is described as someone who looks out for you, shows you love, is down for you, someone who's got actual love in from their hearts to show you. They could be a somebody or a group of somebody's which are typically real close families and friends.
Auntie could me and homies crash at your pad tonight ??
Of course mijo! I got mad-love for you !
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To harbor more than an average or normal fondness of or for something. A way to say you really like something.
I got mad love for the mexican food, yo. -or-
I have mad love for Robot Chicken! -or-
I have nothing but mad love for you, bro, but you gotta lay off the sauce...
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What Randy Jackson has for every contestant on American Idol. Usually uttered after the person has butchered a song for our listening pleasure.
Crappy Singer: ....yeahhh!
Randy: You know I got mad love for you man, but that wasn't so good..
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describes how you are in a relationship with someone you are mad at, but will never stop loving no matter what stupid shenanigans they pull.
when your boyfriend is at newport beach with his friends doing shrooms, and you are alone smoking weed. Of course you harbor some frustration, although it will never be frustration that could turn into hate, because of your intense mad love for them. you are now love mad