Only of You song meaning

This song is about love at first sight. The narrator lost sleep and peace because of this person he is so charmed by. He's only seen them once, but it was enough to cause these love-filled thoughts to take over his mind. They are only friends and he doesn't dare tell them how he really feels - all he can do is hope that this wonderful infatuation never ends, and keep dreaming of arousing the same feelings in the one he loves.
This could be another song written about Jennifer, the mysterious girl that rejected Armstrong because she didn't believe his feelings were true ("I wasn't quite there as far as she was concerned, but I was there. I was down. I knew what was up, but she wasn't willing to take that risk so..." - Armstrong).