yeah… you can use a drop shadow!
Just take that same black layer you created for the transmap and copy into a new layer of the shirt (paste in place), then apply the drop shadow in the direction you need it… then, save as a copy and replace the old shirt file (Diffuse channel).
Sorry I was MIA for a minute… a displacement map is almost like a bump map..
You can get some simple “bumping” by using bevel and emboss on the ripped “paint” layer you created before. ( You may have to invert the image… black and white again… only this time… white will be the “high” raised part and black will the the “low” depressed part. You can put this image either on the bump channel or the displacement channel. Displacement tends to be a “stronger” effect
OK…if that didn’t make sense…let me know..lol