Here’s my translation

Kveðja

Alan

Vindum, vindum
Let us wind, let us wind

vef darraðar,
(the) web of spears (woof of war),

þann er ungr konungr
that which (the) young king

átti (eiga) fyrri.
fought (see eiga, Z5) before (earlier).

Fram skulum ganga
We shall go (on foot) forward (ie advance)

og í fólk vaða
and rush (vaða, Z2) into battle (see fólk, poet, Z5)

þar er vinir vorir (várr)
there where our friends

vopnum skipta.
’bandy’ (cf skipta orðum við e-n, Z6) weapons

Vindum, vindum
Let us wind, Let us wind

vef darraðar
(the) web of spears (woof of war),

og siklingi*
and

síðan fylgjum.
after-that let us follow (accompany, fylgja + dat) (the) king.

Þar sjá bragna*
There see

blóðgar (adj from verb?) randir (pl of rönd)
(the) made-bloody shields of men*

Gunnr og Göndul
Gunn and Göndul

er grami hlífðu.
who protected (hlífa + dat) (the) king.
(Gunn and Göndul see there the bloodied shields of men who protected the king)

Vindum, vindum
Let us wind, let us wind

vef darraðar
(the) web of spears (woof of war),

þar er vé (n. pl standard, poet) vaða*
there where (the) standards

vígra manna.
of men skilled-at-arms rush-through* (see vaða, Z2)

Látum eigi
Let us not allow

líf hans farast,
his life to perish (see farast, Z17),

eiga valkyrjur
(The) Valkyrie (slain-choosers) have

vals um (?)kosti.
(the) choice of (the) slain (have the slain in their power).

Þeir munu lýðir
Those men (lýðr, Z3) will

löndum ráða
govern (rule, see ráða + dat, Z8) (the) lands

er (who, referring to those men) útskaga
who inhabited* (the) outlying-nesses

áðr um (?) byggðu* (byggja).
before.

Kveð eg ríkum gram
I declare (a) king with kingdoms

ráðinn dauða (dauði) .
(to be) certain (see ráðinn, Z2) of death

Nú er fyrir oddum
Now by spears (or spear points) is

jarlmaðr hniginn (hníga).
(the) earl’s follower fallen-dead.