Maloqueiro is a Brazilian Portuguese slang term that refers to someone from the 'favela' (slum) or a 'maloca' (shanty/hovel). It can carry connotations of being a 'hoodlum' or 'street kid', but in a more affectionate or self-identifying way within certain contexts.
In this song, the singer uses maloqueiro to describe himself, saying "o coração aqui do maloqueiro" (the heart here of the maloqueiro). It's an interesting and unique word because it grounds the song in a specific cultural and social reality, adding a layer of authenticity and vulnerability to his plea for a serious relationship, contrasting with the common romantic tropes.
Gaab sings to someone who called him "amor" and then vanished the moment things got real — "Na fumaça sumiu da minha vida" ("Gone in the smoke out of my life"). He wants something serious and lasting; she only ever wanted "um lance passageiro" ("something fleeting"), and that mismatch is the whole song. The hook keeps circling back to one plea, "Volta, volta que dá tempo" ("Come back, come back, there's still time") — sung right up against "Aproveita enquanto eu 'to te querendo" ("Take advantage while I still want you"), which turns the invitation into a deadline. Underneath the pagode groove, this is a song about pride giving way to longing: he can travel the world and still catch her scent on the wind, and he says so plainly rather than pretending he's over it.