..."Born Slippy" is a song from the perspective of a druggie high on amphetamines.
First, "Born Slippy" is a term used to describe someone who is paranoid, especially while under the influence. This is likely the downright best evidence for this alone. Next, the pace of the song: It starts up with a mellow chord, and relaxed, flowing lyrics, that are largely nonsense. This is a metaphor for the high. Then, the drums go up a notch; few seconds later, WHOMP. The kick drum comes in. Metaphor for heavy heartbeat. Lyrics repeat "blonde" frequently, in addition to somewhat romantic lines ("and in walks an angel") suggesting a relationship with a woman. This may suggest that while tripping, the narrator is either recalling (and, in that case, possibly regretting) or is currently engaging in a romantic/sexual act. He references his mother multiple instances, hinting at guilt of what he is currently remembering or doing. The music starts getting more and more intense, with more instruments being added on (Speaking of which, DAT ARPEGGIATOR, YO.), until it finally crashes at the end of the song, hinting an energy crash or loss of consciousness.