Here is my best transcription of the SNL version:
Like this song, life is short
It's the longest thing you'll ever do
The worse the curse is that your dreams came true
God is a mirror in which each man sees himself
Hell is a place where you don't need anyone's help
When I first met you, your face was like snow
Wherever I went you wanted to go
Your face, your grace, your can of mace in a case
Did you put your case down?
Age-/A-/8-17 (can't tell) on the ground
Don't leave me now
Don't leave me alone in this song
As for two and three, I have a few theories, but I need to go, so I'll post them later.
Also, I love the rap.