I'd suggest taking a look at the song as a piece of a bigger whole. It's a prelude to the Mellon Collie album as a collective work. The passing of time is a key theme throughout MCIS, and I think "Tonight, Tonight" is the explaination of that. It's sort of the band's way (well... Billy's way) of saying "This is where we are, this is what we feel, and this is what tonight is about". They "crucify the insincere" through Zero, Bullet with Butterfly Wings, An Ode, etc.. In other songs, Corgan "make[s] things right" with personal messages about his childhood and relationships. And finally, he "finds a way to offer up the night" in the twilight of the album, the closing tracks of the second disc. The "indescribable moments" are simple the feelings conveyed by the music.
I'd suggest taking a look at the song as a piece of a bigger whole. It's a prelude to the Mellon Collie album as a collective work. The passing of time is a key theme throughout MCIS, and I think "Tonight, Tonight" is the explaination of that. It's sort of the band's way (well... Billy's way) of saying "This is where we are, this is what we feel, and this is what tonight is about". They "crucify the insincere" through Zero, Bullet with Butterfly Wings, An Ode, etc.. In other songs, Corgan "make[s] things right" with personal messages about his childhood and relationships. And finally, he "finds a way to offer up the night" in the twilight of the album, the closing tracks of the second disc. The "indescribable moments" are simple the feelings conveyed by the music.
Ain't that a nice interpertation? :)