Parqueo comes from the verb parquear, a common Spanish adaptation of the English verb "to park". While the more formal word is estacionar, parquear is widely used, especially in Latin America.
In this song, the singer says, "me parqueo por tu ventana" (I park myself by your window). It creates a charming and informal image of him settling in outside his beloved's house to serenade her, perfectly capturing the song's candid and heartfelt confession.
This song is a full-on declaration of love, with a little help from some liquid courage! The singer admits right away that he's fallen hard, calling himself a "loco obsesionado" [an obsessed madman]. But he quickly adds, "no te espantes, pues, no es nada malo" [don't be scared, it's nothing bad]—his feelings are intense, but his intentions are good. He's so head-over-heels that he could spend hours describing everything he loves about this person.
The title, "Ya Borracho" [Already Drunk], gives away his strategy. He confesses that when he's drunk, he gets brave enough to do things like park outside her window to serenade her or call her up just to say "unas bonitas palabras" [some beautiful words]. It's a classic romantic move with a modern, slightly messy twist. He's not just dreaming, though; he has a whole plan to ask her to be his girlfriend in February and make her happy. It's a sweet, funny, and very direct song about needing a little boost to tell someone how much they mean to you.