Lyric discussion by tyrock 

Cover art for Rock 'n' Roll lyrics by Sounds, The

I think this song is just about them expressing her love for Rock n Roll. But if looked carefully, many parts of the song can also function as a metaphor for drugs, alcohol and sex. And since Rock n Roll is kinda synonymous to sex, drugs and alcohol, it really is up to you on which you'd like to interpret it as.

Or, alternatively you can also consider it as Rock n Roll = Sex, drugs, alcohol, the music rock n roll. In other words, her meaning of rock n roll encompasses all these aspects.

Just my 2c.