Leather So Soft Like Father, Like Son Birdman and Lil Wayne

I'm sittin' high on them inches I'm in the nosebleeds

His car has very big rims on the tires. Which allows him to "sit high". When a person is sits high at an arena or stadium they call those seats nose bleeds. Rims are usually called by their inch size. ie. 24's meaning the rim is 24 inches in diameter.
The Oracle