Waist Deep (2006) on Netflix

Plot summary

Otis, known as O2, has finished a prison term and is raising his son Junior, trying to stay out of trouble. At a crowded Los Angeles intersection, carjackers seize his car with Junior in the back seat. The boy is in the hands of Big Meat, who runs the Outlaw Syndicate and once worked with O2; he wants $100,000 by midnight for Junior's return. O2 forces Coco, a hustler who sells stolen clothes and marked him for the carjacking, to help him. His cousin Lucky, who works for Big Meat, carries messages between them. O2's plan is to rob Big Meat's operations and P Money's, staging the crimes so each side blames the other.