Arráncame is the command form of the verb arrancar, meaning "to rip out," "to tear away," or "to pull up by the roots." It's a powerful and dramatic word that conveys a sense of desperation and force.
In this passionate bachata, Romeo Santos begs his new lover to violently erase the memory of his ex. He cries, "Ven, arráncame sus huellas" (Come, rip her traces from me), using this intense verb to express his desire to be completely cleansed of the past, even if the process is painful.
Romeo Santos takes bachata to an intensely dramatic level here. Before he starts a brand-new romance, he warns his new partner about his past: "Antes que desnude el corazón / Te advierto que lo tengo con heridas" (Before I bare my heart / I warn you that I have it covered in wounds). His old flame left toxic traces all over him, so he asks his new love interest for a complete, extreme emotional surgery. He does not ask for gentle healing; he asks her to violently scrape the memory of his ex off his body.
The physical metaphors are completely over the top. He literally offers her a lighter and asks her to burn his lips ("Quiero que quemes mis labios / Elimíname el sabor" [I want you to burn my lips / Eliminate the taste for me]) and begs her to carve off every trace of his ex from his skin with a knife ("con un cuchillo"). In Spanish, when he says "quede en carne viva" (left with raw flesh exposed), he means leaving nothing behind so he can be reborn clean: "Renazco un hombre nuevo y seré tuyo" (I am reborn a new man and I will be yours). It is melodramatic, wild, and peak King of Bachata.