"Hose" has long been a slang term for penis, particularly in the U.S. Navy. I was never in the Navy, but I worked at a part-time job years ago at which the rest of the crew was either active-duty or retired Navy. I recall "hosed up" and "dicked up" as being pretty much synonymous. I learned lots of colorful language at that job, including referring to a clumsy, inept attempt to do something one really doesn't know how to do as either "fucking a dog" or "a monkey tryin' to fuck a football".

And it seems like I remember something about the line in "Honky Tonk Women" that goes "She blew my nose, and then she blew my mind" originally being "She blew my hose..." It supposedly was changed so the song would get airplay. I imagine you can say "blew my hose" on the radio now, but you couldn't in 1969.