This is wordplay on the “I run it” idiom that was repeated in the previous few lines. It’s “ironic” that “I run it” and “ironic” are homophones as well.
On a Deeper note,
More insight to this line is the fact that now all he sees are Wile E. Coyotes in the room. Wile E. Coyotes can be reference for the people in his neighborhood that were gang-banging or causing plenty of trouble to him. It’s ironic that he went from a child watching Wile E. Coyote cartoons with the Road runner, to either running with the big dogs, or running the game himself.
To help improve the meaning of these lyrics, visit “Cartoon & Cereal” by Kendrick Lamar (Ft. Gunplay) Lyrics and leave a comment on the lyrics box