BYAK is Kevin Roldan doing what Colombian reggaeton does best: a straight-up flirt with zero subtlety. The hook is "Quiero darte una chimba, bebé" (I want to give you something awesome, baby). Chimba is pure Colombian slang. On its own it means something great or amazing, but here it is loaded with a wink, and everyone listening knows it.
He keeps going back to "Como esa noche en el hotel... cuando estabas soltera" (Like that night at the hotel... when you were single), so this is a reunion with someone from his past. "Matemo' bellaquera" (let's kill the horniness) uses bellaquera, Caribbean and Colombian slang for being turned on, and "matemo'" is matemos with the final s dropped, the way it sounds when sung fast.
The party list is very specific: "Tussi, mari y Hennessy" (tusi, weed and Hennessy). Tussi is a pink party drug popular in Colombia, mari is short for marihuana, and Hennessy is the cognac. Then he gets blunt with "Que te rompo completa, bebé, en todas las poses" (that I wreck you completely, baby, in every position). It's a lot. The sweetest line is probably "Tú eres mi fruta prohibida" (you are my forbidden fruit), before everyone ends up "perreando en la esquina" (dancing reggaeton style in the corner). Perrear is the verb for that grinding reggaeton dance, and it's one you will hear in almost every song in the genre.