Like smoking the thinnest air, I open the Lamborghini
Hoping them crackers see me like look at that bastard Weezy
He's a beast, he's a dog, he's a motherfuckin' problem
He looks forward to white people’s disapproving reaction when they see him drive by in his Lamborghini, smoking high-quality weed (“the thinnest air”)
In a larger sense, Wayne is celebrating the dynamic that defines his life: an extremely successful black kid from the ghetto flaunting it to the white world (whose penchant for buying iTunes giftcards, ironically, helped make him rich in the first place)