I found this translation and interpretation on the web and am wondering if it is correct:
Teeja tera rang tha main to
(I was your third color)
Jiya tere dhang se main to
(I lived my whole life in your traditions)
Tu hi tha maula, tu hi aan
(You were my God, you were my pride)
Maula mere lele meri jaan
(Take my life you are my God)
"Indian flag's third color is green, and green is the color of Islam, that is why he says I am your third color and integral part. He is talking to his motherland India in this song."
The audio is not as good but it is performed live and the staged is bathed in green light and he clearly holds up 3 fingers at 3:14...
I get even more choked up knowing the lyrics.