Mood: The mood of the video seems to be intense and dramatic, with a hint of nostalgia. The theme appears to revolve around crime, power struggles, and possibly romance, set against the backdrop of Mumbai. The overall emotion evoked is one of anticipation and intrigue.

Environment: The setting of the video seems to be urban, likely Mumbai, given the title 'Once Upon A Time in Mumbaai'. The environment appears to be gritty and dark, suggesting a focus on the underbelly of the city, possibly involving themes of crime and mafia.