Enchulé is a slang term derived from "chulo" (cute/cool). It means to become infatuated or deeply smitten with someone, often quickly and intensely.
In the song, the artist says, "Me enchulé de tus defectos imperfectamente perfectos" (I fell in love with your imperfectly perfect flaws). This phrase is interesting because it expresses a deep, almost obsessive affection for someone, even embracing their imperfections, which is a unique twist on typical romantic declarations.
The hook is a promise and a threat at the same time. It opens on "Aunque no estés aquí y estés allá" (Even if you're not here and you're over there), then closes the argument before anyone has made it with "Que esto nunca va a acabar" (That this is never going to end). Yan Block spends his verse flexing, "Tengo mari, pali y Xanny, mami, yo vivo en un party" (I've got weed, pills and Xanax, baby, I live in a party), and then gives the whole pose away with "Me enchulé de tus defectos imperfectamente perfectos" (I fell for your imperfectly perfect flaws). A Ducati and an admission that he is hooked on someone's faults, in the same breath.
Then Panda Black takes it over and the song stops agreeing with itself. Her side is "Tú no estás cuando quiero, es cuando tú quieres" (You're not around when I want, it's whenever you want) and "Si el amor es de verdad, pues, ¿Pa' qué me hieres?" (If the love is real, then why do you hurt me?). She is answering the boast with a receipt. What is left by the end is "Cuando no te siento cerca mío / Encima mío, me da escalofríos" (When I don't feel you close to me / On top of me, it gives me chills), which sounds more like withdrawal than romance.