I read the meaning in Kiedis's authobiography Scar Tissue: He's telling about the lovestory with his girlfriend Carmen. Their relationship was insane at the point she gone "mad" for jealousy and sometimes she became violent.
"twisting and turning, your feelings are burning" : the feels love for Carmen and a lot of passion.
He know that his not a loyal man ("raise by my dad, girl of the day") and he knows that with his behavoir he's ruin Carmen's mind:
"she meant you no warm, think you're so clever, but now you must sever, you're breaking the girl"
He's aware that for both is better to end the relationship:
"I don't know what, when or why the twilight of love has arrived"