Lyric discussion by paul839025 

I've always thought "lampshade" refers to the stereotypical image of the drunken person as wearing a lampshade on his/her head while reveling. Google "lampshade drunk" for plentiful examples.

"Bring your own" is a play on "bring your own beer," which is, or was, a common stipulation for parties in which drink is/was not provided.

@paul839025 Expanding on this a bit - wearing a lampshade means you are the life of the party. The drunk meaning dates to the 1920s, but before that it was a common gag in silent film. Basically, he is saying bring a lampshade so we can all be the life of the party. There's obviously more joking going on here because "somewhere there's a party, here it's never ending can't remember when it started," so he's saying it while already at a party and the party has gone on for some time.

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