I too always heard it as "from your apron binding down", which I thought meant "below your waist", i. e., it's a sexual boast. But it doesn't really make sense so when I transcribed the words I tried to do that part phonetically. I wonder if McTell, not completely sober during the recording session, meant to sing something like "I can entertain you, baby, but you ain't gonna bind me down"? That reading would be consistent with the "I'm out of here" theme of the song.