tooti (तूती, or tutti in a slight Punjabi accent) literally means a parrot, a female parakeet. Tooti bolna however has nothing to do with a parrot, and it's an idiom which means something like, to enjoy a good standing, to have an authority or gain influence.
So here tooti bole wedding ki basically means that weddings have an influence, or as one can shorten it and say, weddings rock.
The translation of the entire song from the film Welcome Back can be found HERE.
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