What is the meaning of "Nofes Titofnah Sifsosayich"?
Rashi: Sweetness drips from your lips - reasons of Torah.
Seforno: It is proper that you engage in Torah and Mitzvos also after the Churban.
Malbim: The Nefesh is close to Elokim in three ways - thoughts, speech and deed. Above discussed thought, that she is full of Ahavas Hashem - "Mah Yafu Dodayich" (10). This is the essence of Korbanos. Now it discusses speech in Torah and Tefilah. Her lips drip with them.
Malbim (Mashal): The lovers approach each other and reveal their love for each other. He comes closer to kiss her, and says "Nofes Titofnah
How are honey and milk under her tongue?
Torah Temimah citing Chagigah 13a: Matters sweeter that honey and milk (Ma'ase Merkavah) should be under your tongue (teach them to only one Talmid at a time, and only if he understands by himself).
Seforno: It is very close to you in your mouth and under your tongue - investigation and deed, to learn and to teach.
Malbim (Melitzah): Safah (lip) is external speech; tongue is internal (intellectual) speech. Bees make honey from the heads of flowers - vegetation. Nature makes milk from the best blood of living beings 1 . This is a metaphor for transformation of Nefesh ha'Tzomachas and Chiyunis to clear, good things proper to be food for the verbal Nefesh, like honey and milk. I.e. the internal reasons for Mitzvos and Korbanos is to select the sparks and purity of the Nefashos to elevate the vegetative and Chai to the level of Medaber.
This is like the opinion (in Brachos 6b) that menstrual blood in nursing women and animals is held back and converted to milk. (PF).
What is "Rei'ach Salmosaayich"?
Rashi: They are proper Mitzvos that apply to your garments - Tzitzis, Techeles, Bigdei Kehunah and the Isur of Sha'atnez.
Seforno: [The scent of] your Midos.
What is the comparison to "Re'ach Levanon"?
Seforno: It is pleasing to Elokim and to people.
Malbim (Melitzah): Now it mentions the actions that are the external clothing that covers speech and thought. Your garments are like the scent of Levanon that rises from Korbanos, which are to connect the Shechinah with the Kenesiyah below, and connect the levels with their sources.