I think I spit lozenge
Double entendre: Lozenge i.e. cough drops/throat soothers. He spits fire so much that his throat is irritated and needs to be cooled down
As in Joey spits diamonds; his raps are invaluable.
To help improve the meaning of these lyrics, visit "Don't Quit Your Day Job (Lil B Diss)" by Joey BADA$$ Lyrics and leave a comment on the lyrics box