I get "command not found" when running a new shell, (and none of my aliases, etc. are noticed). What's wrong with my .bash_profile? Terminal.app

Here are the my preferences settings: 

!/Users/Parker/Desktop/0.png
!/Users/Parker/Desktop/0.5.png
!/Users/Parker/Desktop/1.png
!/Users/Parker/Desktop/2.png

Here is the contents of my .bash_profile:

alias unhide='chflags nohidden'
alias hide='chflags hidden'
alias lock='chflags uchg'
alias unlock='chflags nouchg'
alias la='ls -A'
alias phone='sshpass -p thisismypassword ssh root@myiphone.local'
alias vlc='/Applications/VLC\ 2.2.0.app/Contents/MacOS/VLC'
PATH=/usr/local/bin\:/usr/bin\:/bin\:/usr/local/sbin\:/usr/sbin\:/sbin
if [ -f $(brew --prefix)/etc/bash_completion ]; then
. $(brew --prefix)/etc/bash_completion
fi
alias up='cd ..'
alias install='sudo apt-get-install'
alias update='sudo apt-get-update'
alias lock='/System/Library/CoreServices/Menu\ Extras/User.menu/Contents/Resources/CGSession -suspend'


When I launch Terminal.app, I get this:

!/Users/Parker/Desktop/Screen Shot 2015-02-15 at 10.25.50 AM.png
You shouldn't be escaping the colons in your PATH variable:

PATH=/usr/local/bin:/usr/bin:/bin:/usr/local/sbin:/usr/sbin:/sbin