After hearing the song, and thinking about why Ray J would name it such, I've come to the conclusion that it means:
Sexy Can I... video tape you while we do some of the following, like blowjobs, fingering, masturbation, sexual intercourse, including doggy style, missionary, and other various positions, then upload it to my computer, upload it on the internet and let all of the world watch it.
Girl - What's that camera for?
Ray J - "Sexy Can I ..."
what someone says if someone they find hot walks by
a question meaning.. WOW your hot can I get with you? It can be taken as a compliment, or question.
Connor walks into Marie's room while getting ready for the club. She looks hot and
Connor say, " wow sexy can I"
Marie say, "Please do"
Then they screw