1) Step & repeat closely spaced circles in ilustrator to make to match the size of your jumbotron, and copy them to you clipboard.
2) Paste the circles from illustrator into your phothsop layer and choose layer >> vector mask >> current path.
3) Add a layer style of an inner bevel and make it really soft.
4)Duplicate a copy of your layer and change the mode to soft light (to saturate the colors)you can gaussain blur this layer also.
A reference photo would help to match the look, but this should give you some ideas. I am thinking of the bellagio sign. If you don’t have illustrator to make your circle you can do this in photoshop, and can even define a pattern with just one circle in white over a black background on a new file the size of your repeating values. I just like illustrator cause it is so great for tweaking somehting just using alt cursor key to step & repeat.