Okay, I used to ask about this, then I got Rodney's DVDs, and I can explain what it is.
Quinton does it a little bit differently, first of all. Crazy Monkey is not really with the elbows. Rodney does teach the blocking with the elbow method, but that's from a jab-cross range. Rodney refers to the range where all punches can be thrown as the "all guns" range. Crazy Monkey is what he invented for all guns.
You hunch your back, roll your shoulders forward, and keep your hands on your head. When the straight punches come in, you sort of parry the punch with the blade of your forearm. You're constantly shifting your torso left to right, bringing your arms up slightly. You use small movements, not wildly fast sliding movements to connect your elbow to his hand.
You don't use this from a static position; Rodney has a stalking style of boxing. It's actually used to press forward.