I am not a Puerto Rican but I looked for the entire lyrics of the song. I had requested earlier to post more context and this was quite interesting, so, I surfed the net for the lyrics.
Apparently "gas" refers to something that can really "skin, pull your hair off, peel" your skin off or some part of your body.
From the song, you can either think that they are dancing in a club/disco or so and the gas, you know the one you are usually dancing and kind of comes out ( I haven't been to any in ages but I see the stuff in the movies, hahaha), ok, so that gas is going to be really strong and it will have a stronger effect than the usual one. This is reggeaton, this could be anything related to this, ****, or ***. So, imagine what the gas can do...can take your skin off, heavy stuff...
mujeres comienzen a bailar y los titeres a rebulear
no se quiten que esta noche el gas pela pela,el gas
pela pela
hopefully, this will be close to the meaning!!