If chippies are in effect within your group, you win the chippie if you chip in from off the green. Repeat: Your ball is off the green, you chip it into the hole, you win a chippie.
Chippies are worth a set amount of money or points, how much being up to the group. Just make sure before teeing off that everyone agrees that a) chippies are worth X amount; and b) chippies are in effect.
Is there any distance requirement to earn a chippie? That is, must you, say, be within 20 yards, or 50 yards, from the green to win one? Such considerations are up to the group to decide. Some groups only award chippies when the golfer is using the standard chipping technique on his shot; others award chippies for any hole-out, regardless of how far the golfer was from the green.
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"How much is each chippie worth?"

