Hipnotizó means “hypnotized,” from hipnotizar, “to hypnotize.” In the song, it is used figuratively: seeing her leaves him completely captivated and unable to resist her charm, making this a vivid and memorable way to describe attraction.
In "Maestra" (Teacher), Elvis Martínez plays a man with no experience who has picked out an older woman to teach him. He opens by admitting "Soy un hombre inocente todavía" (I'm still an innocent man) and says he needs a woman "Que en las noches me eleve a la luna" (Who lifts me to the moon at night). The questions in the chorus are almost sweet: "¿Cómo será la primera vez?" (What will the first time be like?) and "¿Qué se siente?" (What does it feel like?).
Then he gets bold. "Lléveme a su apartamento" (Take me to your apartment) and "Y dígame qué debo hacer" (And tell me what I should do) are pretty direct for a bachata. Listen for the switch from tú to the formal usted in lines like "Maestra, enséñeme usted" (Teacher, teach me): he talks to her the way you'd address a teacher, which is the whole joke and the whole flirt. And when he shouts "Tu camarón" (Your shrimp), that's no seafood order. Camarón is Elvis Martínez's nickname, his signature tag.