This song is about a guy who is feeling desperate enough that he would date, or have sex with anyone. Hence the lyric, "I'm sleeping my way out of this one, with anyone who'll lie down." Here's more lyric interpretation:
"I'll be stuck fixated on one star, when the world is crashing down." - one girl is all he'll focus on, no matter what, until he gets her.
"I keep telling myself, I keep telling myself, I'm not the desperate type, but you've got me looking in through blinds." - Furthers that fact that he's very desperate.
"Sitting out dances on the wall, trying to forget everything that isn't you. I'm not going home alone 'cause I don't do too well on my own" - This is meant to tell the listener that he can't quit thinking about one girl. So much so that he can't even dance, or party. And his mind is set on getting this girl, because he's not going home alone.
"The only thing worse than not knowing is you thinking that I don't know I'm having another episode. I just need a stronger dose" - This tells the listener that the girl likes him, but she doesn't know that he likes her, or so he thinks. Then he realizes it's all in his head, he's just having another episode, so he needs a stronger dose of medication.