I listened to two recordings: one on the Rowan Brothers album "Crazy People" (2005) and one by Peter Rowan on the various-artists album "They All Played for Us: Arhoolie Records 50th Anniversary Celebration" (2012). Although recorded at different times, the lyrics are very consistent. Here's what I hear, and I have boldfaced the words that are different from the above transcription. I have also italicized Spanish words and provided a translation in brackets. Note that the 2 middle verses above are omitted from these recordings:

FREE MEXICAN AIRFORCE
Peter H Rowan

1. In the Morenos* Mountains, campesinos are plantin' their fields [peasants]
Where the ghost of Zapata rides a horse that can still outrun the wheel.
High in the sky above, and clear out of sight,
It's the Free Mexican Air Force flyin' tonight.
In the little town of San Antonio**, a cowgirl is cooling her heels,
Rememberin' that God gave us herbs and the fruits of the fields,
But a criminal law that makes outlaws of those seeking light
Makes the Free Mexican Air Force, Mescalito riding his white horse, [peyote cactus personified]
The Free Mexican Air Force is flyin' tonight!
Flying so high-yi-yeeeee-ee-ee-ya-ha-ee!

2. While we're smoking colitas, federales are loading their guns, [cannabis buds, federal police]
Blowin' smoke from their six-shooters, spinning their barrels*** for fun.
Contrabandistas, banditos of light, [smugglers, bandits]
We're the Free Mexican Air Force and we're flying tonight.
High in the hills, we are harvesting sweet sinsemilla. [high-potency marijuana]
The law wants it all 'cause they think that the wild weed can free ya.
Freedom for us is a prison for the rulers of might,
And the Free Mexican Air Force, Mescalito riding his white horse,
The Free Mexican Air Force is flyin' tonight,
Flyin' so high-yi-yeeeee-ee-ee-ya-ha!--Flyin' tonight!

[* I can't find any mountains called the Morenos Mountains. But if you Google them, you find lots of copies of these lyrics!
** I think the Rowan Brothers may have changed the town in the song to whatever town they were performing in.
*** Doesn't he mean cylinders?]