Peda is a colloquial and somewhat slang term in Mexican Spanish that refers to a heavy drinking session or a party where there's a lot of alcohol.
In the context of the song, the singer, dealing with heartbreak, states, "Es la misma receta, una buena peda" (It's the same recipe, a good binge drinking session). This reveals a common, albeit not always healthy, coping mechanism for dealing with romantic disappointment, making it an interesting and culturally relevant word choice.
Ever heard a breakup song that sounds more like a party anthem? That's "A Lo Que Sigue"! Instead of being sad, the singer declares that his breakup was the perfect excuse he needed, saying it fit him como anillo al dedo (like a ring on a finger). He's faced with a choice: beg his ex to come back or get over it. After talking with his pride, he decides it's time to move on to the next thing.
His philosophy is simple and confident. He believes you shouldn't stay where you're not wanted and that "half-hearted loves" just get in the way. For him, the recipe for getting over disappointment is always the same: a good drinking session (una buena peda). He's ready for a clean slate, letting his ex leave his life just as the alcohol leaves the bottle, sure that better things will come along soon.