He’s got plenty of paper (money)

He is going to fuck her until she’s in some serious pain

He’ll give the groupie head, a widely debated action
(see: http://rapgenius.com/posts/Eatbox-rappers-eat-pussy-sometimes-too)

His bitch is also armed, and he treats her right (a Gucci purse goes for at least 2k)

2 expensive brands

Lean is a drink involving codeine, and prescription cough syrup

Referring to the phrase “off the dome” (meaning an improvised freestyle). Since Sadat X is bald, the baldhead in the song is referring to his dome. He says that since he is freestyling it, it comes from him without any filtering which would take place when you write lyrics (as you edit them, etc). He’s just spitting his truth!

Another Superman reference, because Superman is the “Man of Steel”. Additionally, Superman has X-ray vision (amongst innumerous other powers), which further carries on this lexical field.
One possible interpretation of X-Ray is that she sees right through him, in the sense that she looks past what he portrays himself as but really sees who he is. This suggests intimacy between the two

Rex Lewis is Cobra Commander’s actual name from G.I. Joe, and he is an antagonist much like Lex Luthor.

This line doesn’t contribute much to the appreciation of the verse as a whole, but it is a way for Kno to emphasize that he isn’t just some random comic book villain, he is Lex Luthor specifically