Correteando comes from the verb correr (to run), and it means scurrying or running around playfully, often with a lighthearted, carefree energy. It paints a livelier picture than simply saying running.
In the song, Los Cafres sing "Correteando por ahí" (running around), using the word to describe an aimless, joyful wandering that matches the song's relaxed, reggae feel.
Have you ever felt like you were just about to miss out on something amazing? That's exactly what Los Cafres are singing about in "Casi q' me pierdo" [I almost lost myself]. The singer describes nearly going "hasta el fin del mundo a buscarte" [to the end of the world to find you] and almost not being able to come back. It's a feeling of being on the brink of missing out on someone special, almost losing sight of their "ojitos de antes [little eyes from before], always expectant and dreaming.
But luckily, he didn't miss out! The song is a celebration of finding that person. He's so happy he can "cantar hoy por nuestro encuentro" [sing today for our meeting]. He almost died without knowing them, almost stayed without dancing! What a close call! He sings, "Suerte que te vi, cantando [Lucky that I saw you, singing]" and "Que suerte igual te vi, bailando [How lucky that I saw you, dancing]." It's a reminder that sometimes, you just have to act because, as the song says, "La suerte es amiga de la acción [Luck is a friend of action]. He's so glad he saw them, because it made him realize "quién sos [who you are]" and how much he wanted to love them.