Is there any rules and regulations for naming a new word?
There are no rules about how to create a new word, just as there are no rules about how to create a new idea. That's how human imagination works!
Whether your new word will be successful or not outside of your own usage, of course, is a different story. Just like any other new invention or idea, people will probably only use the word if:
- it serves a useful purpose in speech or writing by being evocative, functional, or otherwise handy (troglodyte, ecstasy); or
- it expresses a complex concept or idea succinctly (schadenfreude, e-mail); or
- it tickles their fancy (supercalifragilisticexpialidocious); or
- otherwise serves some function better than other words (you could say deceived or cheated, but hornswoggled is so much more fun and has more character).
Generally, your word is more likely to be successful if people can easily discern its meaning. If you just invent a bunch of words and start using them with reckless abandon, it'll be hard to understand what you're saying, and that means your words will be less likely to be adopted by others.
One of the ways a word can be easy to understand is if it's structurally similar to other words (hangry is a blend of hungry and angry) or if its context gives strong clues ("he chortled in his joy"). A word can also be popular because the idea behind it is popular (selfie, truthiness). (Whether the word is popular because the idea is popular, or vice versa, is a bit of a chicken-and-egg problem. Best to leave that one to linguists and philosophers.)
In short, words aren't much different than other ideas -- they're just easier to spread since it takes almost no effort to write down or say a word. Don't be afraid to invent whatever the heck you want!