(Mas que nada) “No Way!”
(Sai da minha frente) “Get out…”
(Eu quero passar) “…And let me pass”
(Pois o samba está animado) “Because the samba is so good”
(O que eu quero é sambar) “And I want to dance the Samba” 

This part of the song is like a dialogue. You could imagine two people talking in front of a Brazilian nightclub. If we imagine this way, it is like the first person saying (not in the song, just imaginary): “This place is not good tonight” and the second person answers, “No Way! Get out and let me pass (or, let me in) because the samba is so good and I want to dance the Samba tonight.”