This is a reference to Jay Z’s “Girls, Girls, Girls”:

I’m like, ‘excuse me Ms. Fufu, but when I met your ass
you were dead broke and naked, now you want half

Lerner was a Fulbright scholar in Spain. In Spanish the subjunctive is used to express emotion and opinion, both of which are expressed in the Jay Z quote

After midnight clubs were vital to the Philly hip hop scene in the 80’s..(cf. this South Philly Review profile). However, there was a specific “after midnight” club that was called the After Midnight. A reader remembers:

The original [After Midnight] was near Chinatown, and then the larger one was on Spring Garden Street & 10th where the Spaghetti Warehouse is now. At the time when places like the Latin Quarter in New York were closing for good, After Midnight became the biggest hip-hop club in the world. It also doubled as a roller skating rink

The club was also listed by MC Serch as one of his “favorite ‘80s hip hop venues” in the seminal volume ego trip’s Book of Rap Lists

“Dollar parties” are pretty big deal for some Philadelphia middle schoolers. Chances are you won’t get laid, since you’re 12, but your group of friends can get into fights with other groups–which makes for an interesting story to tell in class on Monday

Kensington and Allegheny (K&A) in North Philly has a large Puerto Rican population. Over the last few decades the neighborhoods have suffered from serious blight, so it’s a pretty tough spot to be. That’s why Black Thought is concerned about getting punched out (“snuffed”)

The Catholic Church’s primary form of worship is the Mass.

Common is making a pun; just as you’ll always find Catholics at the (big M) Mass, so Common will always appeal to the (little m) masses throughout his career.

Common made a similar “Christian touching” pun three years later on “Raw” off of The Dreamer, The Believer:

Wanna put some hands on her like a preacher