No, it wouldn't really be said it about a film or a dish - but it could be said about the experience of seeing the film or the experience of eating the dish (if that makes sense). But it is real slang, and it is occasionally used. Also remember, on Peep Show, Jeremy is not a good example for how to do anything. I would not advise copying his style of speaking (or really copying his style at all, in any way).

If you mean the film/movie was really awesome, exciting, you really liked it, etc., you might say "That was epic." That's a bit slang-ish.

In Peep Show, you are right... Jeremy is using massive in a slang way. There are at least two ways to use it as slang... as an adjective which yeah I guess is similar to great. Another way is as in a group of people from a place, e.g. the Bristol massive. So no, not common, and I definitely wouldn't say it about a film or dish.

If someone says a film was 'massive' it means it was very popular, not necessarily that it was any good. Although of course the two are often linked. For example, I think the X Factor is an awful TV programme. However it is undeniable that it is massive in the UK (it is very popular.)