There's nothing special about the ping-pong balls and radio. These are the effects of sensory deprivation, which can be intense if it's done right. Most interesting states of consciousness involve sensory deprivation or overload at root, including those induced by psychedelics. For example, sleep occurs most readily in partial sensory deprivation, and many forms of meditation likewise involve sensory deprivation.

Regarding the role of the radio static in this experiment, it's there to produce white noise. It's nearly impossible to drown out all noise. At 15 dB, you'll hear your heartbeat. However, the brain at rest cancels out white noise up to about 70 dB, so you can create essential soundlessness in a moderate quiet environment.

Sensory overload can be fun, too. I recommend listening to music on headphones around 80-85 dB, with your eyes shut and a blindfold on. You want the music to be just loud enough that it sounds like it's coming from within your head, but not so loud as to stimulate adrenal responses (or damage your ears).

Also, binaural beats are pretty cool. You can induce altered states of consciousness pretty easily with these technologies.