I just tried, I started by edit envelope, but got more ugly distortion than sharp "crinkles" like a crushed can. I'd say draw the crinkled can and put the text in it distorted to match by moving the nodes in the letters (converted to curves first obviously). An artist might be able to pull it off, but I'm just a graphics guy and anything I did looked lousy without the can outline to make it clear what it was supposed to be.