Hey guys, I got it, I figured it out! After all this time!
Yes, there is a way to extract gradients from an image and turn that into a custom style. This is what I had to do:
1. Opened my image (in this case, it was a colorful abstract wallpaper).
2. Created a pattern from it (Edit -> Define Pattern)
3. Selected the layer I was working on, and went into Blending Options
4. Selected Pattern Overlay
5. Chose the pattern I created from my image in step 2
6. Added a few more blending options, and...
Whalla! My new custom style!
Basically, what this means is that I had to first create a pattern from my image, then create a style from the pattern. Get it?
It's pretty easy now that I understand it, but being new to
ps doesn't come wihtout its challenges. Maybe someone else will find this info useful, that's why I came back to this post.
You guys were great, by the way. Thanks a million!