Jan-e man means, "My dear" "Love of my life". It's Persian. lit. means, "My life." jaan = life. man (
pr. mun) = me.
The whole song is in very basic hindi, only one or two urdu words.
The transliteration is pretty bad.
The part in the audio excerpt means,
Man: O how long have I been standing, waiting out of love for you.
Woman: I know you burn out of love for me. (Or maybe "I know that you are speaking out of love for me." It's a little garbled.)
Both: Being far from you I've become desparate. Because of your delay I have fallen in love.
The English makes it sound all serious. It's really a sort of cheap, childish sort of pop song - at the lyrical level of, say, Backstreet Boys or something like that. Most Hindi film songs afe written by Urdu poets. This was clearly not.