i got five on it - This is a reference to Luniz's song from 1995, and it means

This is a reference to Luniz's song from 1995, and it means everyone's throwing down five bucks to get the weed, and you're part of that deal.

I got five on it, just like Luniz said in 1995.

I got five on it, and I'm gonna smoke like Luniz.

I got five on it, and I'm gonna split the weed with Luniz.