Down to the Earth I fell
With dripping wings, heavy things won’t fly
And the sky might catch on fire
And burn the axis of the world, that’s why
I prefer a sunless sky, to the glittering and stinging in my eye

Everything is waves and stars
The universe is resting in my arms
I feel so light
This is what I wanna feel tonight
I feel so light
Tonight and the rest of my life …
(Chorus)

It seems the first part of the song is about the dreaming state the singer is in. it seems that she is burdened by something as she “fell down to the Earth”. The thing which should keep her afloat (her wings) seem to be rather useless. From what I read in dream interpretation books, that signifies helplessness, thus “heavy things won’t fly”. I’m not sure about the “sky catching on fire”. But at such a scale, I’m guessing that she’s dreaming about the world around her ending. Exaggerating on “ burn the axis of the world”. I may have to read more about what fire might represent in a dream though. The “stinging and glittering in my eye” it’s obvious that the singer means that she is crying. The sun represents life to the living beings on Earth. But for the singer, she would rather prefer death (I’m thinking that’s what life on Earth would be without the sun) than carry the burden which made her fall to Earth.
It’s just my honest opinion, but everyone doesn’t have to agree with me. During the chorus, the singer suddenly feels that she’s alive. It might be that she woke up from the dream to realize that she’s still alive and feels thankful. It must be a really good feeling because she wants to feel what she felt the night she was dreaming, and for the rest of her life.
Again, the singer is in a dreamlike state. But this doesn’t look like she’s bearing a burden anymore. She’s actually “gleaming” and “floating” and feeling “light as air”. This symbolizes freedom and light-heartedness which frees her from being swallowed up by the “dark sea”. She wakes up from the dream and feels like she’s floating. The world suddenly opens up like “a shore less sea” where there is no limit to the possibilities, as life outweighs death. With that realization and power, she feels “weightlessness” which I interpret as happiness, as nothing is pulling her back down. This part reminds me of the anime One Piece, during the part at Kokoyashi Village (Nami’s home) where Bellemere advises Nami and her sister Nojiko to continue living, because good things will happen if you continue to live and persevere. Even though Nami will be facing stronger hardships in the future, I know she will stay happy with Luffy and the crew.
This final part gives the impression that the singer has found the ultimate bliss (a greater form of happiness which is represented by the “waves and stars”). By nature waves and stars wouldn’t always stay calm and beautiful, but again, that’s the circle of life. I think what she means by “the universe is resting in my arms” is a child, a baby to be precise. Nothing spells more happiness for a woman than holding a new life in her arms. The universe is a hyperbole, which the singer is saying that this child means everything to her. The feeling of lightness is again associated to happiness as she cradles the baby in her arms. She wants to feel like this tonight, and for the rest of her life.

Wow, that was a mouthful. I feel the creative juices flowing again, and it feels great. I’m thinking if doing this more often. I love talking about the music which I listen to. Even if nobody thinks it’s that great, I’ll just type it anyway, because I can’t keep all my thoughts to myself, can I? Maybe next time I’ll talk about my other favorite songs (Exodus and Kremlin Dusk by Utada Hikaru, Umbrella by Rihanna, etc.)