Krit does not mean hydroplaning in the traditional sense here. He explained to Complex:

Traditional hydroplaning is when you’re driving kind of fast and it’s raining and your car is coming off the ground riding on rain water. When I talk about hydroplaning on this record, it’s being high and drunk at the same time-you know what I am saying? You off the ground just enough where you still riding. You still in your zone. You’re in that tunnel vision

Krit views the concept of this song as a sort of continuation of the album’s previous track, which ends with him being robbed by a woman he has just picked up. He told an interviewer:

It’s the after-effect of ‘My Sub Pt.2’ for one, and it’s a popular saying in life. Either you dealing with someone you really trust or people expect a certain expectation and a certain thing from you and it’s like, ‘Yo, don’t let me down. We believe in you, don’t let us down’

A reference here to the 1984 song by Indeep, “Last Night a D.J. Saved My Life”

http://www.youtube.com/watch?v=GtfZbj4J71A

In addition, just as the skit ends you can hear KRIT’s DJ Wally Sparks who he was on the phone with say “I’m on my way”. This Implies Wally Sparks came to his aid after he got jumped.

Krit elaborated on the meaning of this song’s titular phrase:

It’s a common term in everyday life. Somebody tries to come up into your realm like, ‘Yo, maybe you should do this like this.’ You’re like, ‘I am good, homie. I got this. Hold up. This what I do.’ So, it’s one of those records, man. If you believe in yourself wholeheartedly, then that’s how you should feel

Krit explained his Southern pride to Complex:

‘Cool 2 Be Southern’ is just giving back to people from the South. Being from where I’m from and being country and being OK with it, making the kind of music that I make, I feel like we are flexing. I am not ashamed to be from the South, I am not ashamed to be country, and that’s cool. Just taking it from all the other legends I grew up listening to. When we’re talking about UGK, OutKast, Scarface, 8 Ball & MJG, they were Southern artists and they didn’t care

They were like, ‘We Southern. We country. So what?’ And it’s just like a celebration of that. And even the content, the rapping is just going back to what people normally know us for and think they know us for as far as style, food and things like that and flipping the metaphorical aspect and turn that to my car and how I feel about as far as my rhymes and things of that nature and putting in all that into my music. I had an opportunity to work with an amazing trumpet player, trombone player. It’s got a second line feel to it. It’s crazy