Lyric discussion by 4tomic 

"Cap" is a nickname for "liberty caps" a psychedelic mushroom. Everything else in the song seems to support this interpretation.

These mushrooms cause colors to become brighter and textures to appear richer (because of dilated eyes), intense emotional responses (euphoria, elation, depression, disorientation; often all at the same time), and slight hallucinations though usually these hallucinations are very determined by the context of the environment and thoughts of the individual (lights appear to be tiny bubbles, a face in a painting appears to be grinning, a table looks like a sea). It's very hard to describe the experience if you haven't been through it, but the one adjective I'd use is "religious".

Verse 1 explains the visual experience but also the contemplation about what it means. It also describes some disorientation.

Verse 2 describes the emotional experiences which are paranoia/fear and love/devotion.

Verse 3 has his friends asking him to describe the experience and all he can say is he sees a beautiful heaven over him (probably the lights).

Verse 4 describes time disorientation (very common side effect), emotional attachment to the girls who is he worried about saying the right thing to (common side effects), and the nagging heaven overhead.

The chorus is about his thoughts, obsession with some songs, but also perhaps regrets for doing the drug during the exprience.

An error occured.