What does 就算这次做错也只是怕错过 mean?
To translate directly:


  Even if making a mistake this time, it is still preferred for the fear of
  missing the moment.


In other words, it means one would rather take this opportunity (perhaps once in a lifetime opportunity) to do something even if it means making a mistake.

For the full lyrics of this song 给我一首歌的时间 by Jay Chou, please refer to this link.