Laço literally translates to "lasso" or "bow" (as in a ribbon tied in a bow). However, in a more figurative sense, it means a "bond" or "tie" between people.
In "Tudo Que Eu Queria," the singer expresses a deep desire to be close to their loved one, singing "me prender ao laço" (to tie myself to the bond/tie). This evokes a feeling of wanting to be inextricably linked and connected, highlighting the emotional depth of their longing.
Luan Estilizado sings straight to someone he can't stop missing, opening with "Tudo que eu queria agora era ter seu abraço" (All I wanted right now was to have your hug). Every verse repeats the same plain wish in different words: her back in his arms, her kiss, her weight on his lap, nothing more complicated than that.
The offer he makes her is deliberately humble. "Vem que a minha casa não é rica mas teu eu" (Come, my house isn't rich, but it's yours) turns the whole song on one line: he has nothing to impress her with, so he just asks her to come home. He says it three times over the chorus, alongside "Não vou deixar você morando aí sozinha" (I won't leave you living there alone), like a promise repeated because the first two times didn't land.