BLOW ME OFF= "To blow somebody off" is slang for "to break up" (to stop a relationship with your lover), but in cases like this (they just met, so they're not into a relationship) it means "to ignore" or "to tell someone to go away in a rude manner".

LIKE IT'S ALL THE SAME= as if you don't care, as if it's not important at all.
The phrase "it's all the same" means "I don't mind if it's like this or it's like that", e.g:
- Do you prefer coffee or tea? - Oh, it's all the same (that means both are fine)
But you can't say "it's the same", because coffee and tea are not the same, they are different.

LIT= Past tense of the verb "to light" (to set on fire or to switch on): light-lit-lit (you can also say "lighted-lighted")

A FUSE= A cord of readily combustible material that is lighted at one end to carry a flame along its length to detonate an explosive at the other end.

TICKING AWAY= It means the same as "to tick", which is to emit a clicking sound (click, click, click), like a old clock but referring to the way a clock marks the passing of time. In this context it refers to the sound a bomb with a timer may do before exploding.

YOUR SIGN= your astrological sign (Zodiac). Later we find out she's a Gemini.

YOU'RE SWITCHING SIDES= you're changing your mind or your personality. It probably means here that she sometimes makes him think she likes him and sometimes she ignores him (she blows him off), so she's playing games with him.

GEMINI= A Gemini is the zodiac sign for people born from May 21 to June 20. It is a Latin word which means "twins", so it often refers to a split personality (when you have two different personalities at the same time).

HITTIN'= Hitting

HEART= /hɑ:*t/ Be careful with the pronunciation.

DRUM= A primitive musical instrument that consists of a kind of circular box that makes a sound when you hit it (for example, used by tribes in African jungles)

LADY LUCK= The personification of Fortune (good fortune, luck). If Lady Luck gets on your side, she is with you, that is, you are lucky.

WE'RE GONNA ROCK= We are going to rock. The phrase "to rock the city", or "to rock this town" means: to have a wild time, to go party and have a great wild time. "To rock this time alive" makes it more emphatic.

ROUGH ME UP= Beat me up, hit me. It is used here in a figurative sense to mean: she's going to give me a hard time, she's going to make me suffer (but I love it). Rough is pronounced with the vowel in HUT (as in "ruf"). Other common words ending in /f/ are: laugh, cough, tough.

TILL= Until

SHE KNOCKS ME OUT= If someone knocks you out they hit you and you lose conscience (That is what we call K.O.= knocked out)

'CAUSE= Because

SHE BANGS= This expression is playing with several meanings at once. Since he was just comparing her with a bomb, "she bangs" means that "she explodes", which means that she is "explosive", that is, very very hot (= attractive). But at the same time, "to bang" has a strong sexual meaning that I prefer not to explain here. Inevitably, both meanings mix in your mind when you hear this song. There are some other words and expressions in this song displaying a double meaning too.

I GO CRAZY= I become crazy (BrE mad)

SHE STINGS LIKE A BEE= A bee is the insect that produces honey and wax for candles (see picture). If you touch a bee, it will sting you and cause you pain.

I'M WASTED BY THE WAY SHE MOVES= To be wasted (colloquial English) means to be under the effects of alcohol o drugs. When he sees her move, he feels as if he was intoxicated (in ecstasies).

SHE REMINDS ME THAT...= She makes me remember that...

SHE'S GOT ONE THING ON HER MIND= She thinks of just one thing.

LINK= Every circle or oval piece of metal that makes up a chain.

DAISY= A very common flower which consists of a yellow circle with white petals around it.

CHAIN= A connected, flexible series of links, typically of metal. In old times, prisoners had chains so that they couldn't escape.  

YOUR DAISY CHAIN= A chain made of daisies and also used to describe anything made up of things connected like in a chain (see picture). The idea in this song is: your chain is what keeps me a prisoner to your charms, bound to you. He calls it "daisy chain" because her chain is so sweet that it is made of flowers (but it is still a chain and he is enslaved to her anyway). But the other meaning of a "daisy chain" is a series of connected events, one being the result of a previous action and causing the next action, so it's like predestination at work. All these ideas probably mix up in this expression here.

RAP= A very colloquial AmE meaning of "rap" is "a reprimand", or "a sentence to serve time in prison", which connects with the idea of "your daisy chain". The sentence "Your rap sounds like a diamond map to the stars" means "when you punish me, I feel like you send me to heaven". A map to the stars shows you the way to heaven, and it's a "diamond map" because that map is very valuable.

YOU WEAR ME OUT= If you wear something out you erode it, consume it, because you use it too much.

WELL, IF IT LOOKS LIKE LOVE SHOULD BE A CRIME= Well, if love were a crime.

YOU'D BETTER= You should. We use this expression to give advice, and it's the short form for: You had better (always followed by infinitive without to: I'd better go = I should leave)

LOCK ME UP= If you lock me up, you put me into a room, close the door and lock it with a key, so I can't go out, I'm a prisoner.

I'LL DO THE TIME= If you are a criminal and they sentence you to six years of prison, to do the time is to be in prison for six years.

THINKIN'= Thinking

LEATHER AND LACE= very sexy black lingerie (women's underwear) made with leather /leðə*/ and lace. Leather is a strong, flexible material made from the skin of animals (see picture).