Loquerón is a powerful slang term that doesn't have a perfect one-word translation. It's built from the word locura, meaning "craziness", and adds the augmentative suffix -ón to make it bigger and more intense.
In the song, the singer says "traigo un loquerón", which means he's on a wild, crazy bender or party spree. It perfectly captures the feeling of being in an intense state of wild partying for days on end, which is the central theme of the track.
Tito Double P dives straight into a high-energy bender in "EL LOKERON", celebrating non-stop nightlife with heavy street slang. The title itself comes from loquerón, which means a crazy, wild party or state of frenzy. He is driving fast with a diamond-studded luxury watch ("bien adiamantado traigo el Rolexón" [my Rolex is heavily iced with diamonds]) alongside an armored convoy ("blindadón" [heavy armored vehicle]). Inside the car, thick smoke rolls out whenever they roll down the windows ("un humaderón / Sale el olor a pura flor" [a cloud of smoke / the smell of pure weed comes out]), setting up the mood before heading up to a wild apartment bash ("en el depa un reventón" [a massive blowout in the apartment]).
What makes the track entertaining is how completely blunt he is about ignoring relationship drama. When his girlfriend calls repeatedly telling him to go home ("pa'l cantón" [to the house]), he simply shrugs it off. He brags that he is already hanging out with her best friend ("aquí tengo a su amiga a un lado / Y lo mueve mucho mejor" [I have her friend right here by my side / And she moves it way better]). He makes it crystal clear that this four-day lockdown party is not about heartbreak: "Van cuatro días enfiestado, encerrado, traigo un loquerón / Un loquerón, no es por amor el loquerón" [It's been four days partying, locked inside, I'm on a wild bender / A wild bender, this madness isn't over love].