Dissecting "Bubba Shot the Jukebox" by Mark Chesnutt

Mark Chesnutt balances funny and disturbing with the of-its-time 1992 hit "Bubba Shot the Jukebox".  It's a Dennis Linde composition, so we can expect a tongue-in-cheek tone, but how does this one mix peril with absurdity to stay just on this side of too far?