The biggest rims on any car are 26-inches, so Lil Wayne’s claim of 54 inches is insane hyperbole!

Furthermore, many rollercoasters have signs stating “you must be this tall to ride,” the height requirement for the most extreme rollercoasters usually being 4'6", or 54 inches

Well, Lil Wayne is a whopping 64 inches tall! That means he can go on any rollercoaster he wants!

Wayne’s two labels

Implies that he has “killed” the beat

Wayne often refers to himself as a Martian and/or a goblin; since he is obviously not human, he’s trying to find a species where he belongs (he says the same thing in his E.T.-based song “Phone Home”)

Space Jam was a movie that features, among others, Marvin the Martian

He’s saying there is no way you can even remotely compare yourself to him because he is not human. in other words, his flow is so amazing that it isn’t humanly possible to reach that level of awsomeness unless you are immortal, and since he is not a human being, he is the most amazing rapper

“Nae-Nae” refers to Reginae, Wayne’s first daughter, that he fathered at age 15

The dance she’s doing is the “Crank That” dance (“Superman that ho!”) invented by the aforementioned Soulja Boy and Arab

He is actually trying to insult Soulja, Arab, and V.I.C. by saying that the dance is so juvenile that his daughter can do it. That’s why he made it a point to throw in her age.

Your flow may be somewhat “sick” (slang for “good”), but Wayne’s flow is so sick that it died of it’s iillness! (bizarre literal metaphor…even for Wayne)

Wayne will strike a girl like the flint on a Bic lighter.

Big Red is a popular cinnamon-flavored chewing gum (burns your tongue)

A play on the insult “dickhead” (since she has Lil Wayne’s penis on her mind)

Wayne doesn’t spend money on girls