This is a remake of a Macedonian folk song, in which the singer urges his comrades to celebrate his possible death non-traditionally and joyfully, so that a monument may stand to his wild youth.

Here’s a translation of the lyrics:
If I die or if I perish,
Don’t feel bad for me,
Drink your fill of red wine
And smash the glasses.

E-e-e-e, loyal friends,
Sing a song, remember me.

If I die or if I perish,
Don’t bother calling a priest.
Come by my grave
And start to dance the oro.

E-e-e-e, loyal friends,
Sing a song, remember me.

If I die or if I perish,
The memories will remain –
Of all the crazy times
From my young years.

More information here.