'am i rite' is usually used in a non-serious but
humerous come back, using an on-perpose ferudian slip or rhyme to
discribe something, and makes sense in context.
This term is usually used in
the format of 'more like _______ am i rite?". It originated from the popular forum on Somethingawful.com.
Only a true geek would ever say something like this in real life.
Did you see the latest movie about that fire starting guy? It was
action packed and full of excitement.
More like
matchstick packed and full of ignitement, am i rite?