This is a fairly dramatic look that I really enjoy. Also, bear in mind that I wear my makeup fairly dark, and you don't have to pack on the color as much as I do :)
prime eyelid then add white cream shadow to your. I usually only do 3/4 across. The reason I use cream shadow is that it's a really good sticky base to make the white pop more than it would alone.
Line the top of your crease with your black shadow. This is just to give you a base line to follow upwards.
Bring your black shadow up. (it doesn't have to be as high as mine, whatever your comfortable with) Work up and out in sweeping motions to get a nice solid color.
Make sure your lines are sharp and both sides are even. Now add your white powder eyeshadow on top of your cream base. This will make it pop :).
I add my liquid eyeliner about halfway and up. If you start from the inner corner it really over takes the white and defeats the purpose. Add white on the brow line above the black and blend well.
Draw on your liquid liner half way under your eye and blend with the same black eyeshadow that you use on your eye.
Crimp eyelashes. My basic rule of thumb is to hold for ten seconds then do ten quick squeezes. Add three coats of dark black mascara. I also coat my bottom lashes for a doll eyed look.
Add white in the inner corners to brighten your eyes, then whatever else you do with concealer, coverup, etc.
And violá! A smoky cut crease, done, for me, in about ten minutes!! Enjoy :D