Probably it's "had two wings," rather than "had new wings."

The last line of the stanza is almost certainly
"Light on her breast and there I would die."

"Light" is used in hillbilly dialect to mean "land" or "come down." With an exclamation point, it's a sharp command, usually addressed to restless kids who are running around and making lots of distracting noise. "Light!" means "Sit down and be quieter!" (It's possible he's saying "Right" instead of "Light," but it sounds more like the latter to me.)

Roscoe Holcomb sings the comparable lines

"I'd light by the side of my own true lover
And there I'd sit until the day I die."

He starts the next verse
"I'd light up in some weeping willow,
Weep for weeks and months and years ... "