1) Type text (in this case EERIE XARA. Set the fill to black.2) Create a neon effect:
a) Duplicate the text and add a thick outline (i.e. 8 pt) with a
"neon-ish" color. Add 100% transparency.
b) Duplicate the outlined copy and change transparency to 80% and make the outline thinner (i.e. 1 pt).
c) Blend
the to copies and place them behind the original.
3) Duplicate the original text and fill it with the neon color.
4) Add a Fractal Plasma transparency with the starting
transparency set to 90%
5) Duplicate the copy and make it larger (at least by 50% in both directions). Set starting transparency to 100%
6) Blend
the two copies (a 25 step blend is OK) and place them behind the original and the first blend.
Bonus:
You can make an eerie light "shine through" by adding a similar blend in front of the original text as shown on the bottom example.