Weightless Lyrics
Between us and them, from the beginning
We're looking for such different things, it is insane
But we wouldn't want to be the same
All of those are just our creations
Caught up in the daze of mistaking this
Everyone of us is weightless
All weightless, weightless
We're all weightless, weightless
Everyone of us is weightless
That slowly does appear
My God it's been gone for all these years
And yet it really is still here
All of those are just our creations
Caught up in the days of mistaking this
Everyone of us is weightless
All weightless, weightless
We're all weightless, weightless
Everyone of us is weightless
Zero gravity, no pull has got me
Hurtling through space, all time is misplaced
We're all weightless in this place
Only matters if you are here with us
Because the route we take is so circuitous
We are floating now, there’s no pull here in space
We’re all weightless hey
Between us and them, from the beginning
We’re looking for such different things, it is insane
Everyone of us is weightless
All weightless, weightless
We’re all weightless, weightless
Everyone of us is weightless
All weightless, weightless
We’re all weightless, weightless
Everyone of us is weightless

Nick's first verse is an introduction to the topic that 311 are a band built around positivity and energy exchange between band and audience. Makes a distinction that many other bands are after different things.
Second verse is stating that humanity is part of the universe and a wholeness exists between everything and everyone in the universe.
Chorus is simply stating that everything is literally weightless. The underlying meaning here comes from particle physics and states that matter doesn't actually exist, but rather our human consciousness creates matter through our limited senses and electrical signals in the brain.
SA's verse describes him looking up at the nightime sky and seeing the stars. What he is describing is seeing the light of stars that takes thousands, sometimes millions of years to reach us - so what we are really seeing has already happened in the distant past but yet we are seeing it in our present consciousness. A beautiful description of the relative nature of time perception.
Nick's final verse talks about travelling through time and space which advances in modern science are bringing us closer and closer to achieving. Also, he cleverly plays on the word "matter" meaning that it both is important when the audience and the band share a common energy, and also that the human bodies we all share are simply a manifestation of a higher energy that is also shared by everything.