Drunk. This is rum fuddle; this is excellent tipple, or drink. Fuddle; drunk. Fuddle cap; a drunkard.
Definition taken from The 1811 Dictionary of the Vulgar Tongue, originally by Francis Grose.
See also the definition in Nathan Bailey's 1736 dictionary of canting and thieving slang.
Fubsey * FudgeNathan Bailey's 1736 Dictionary of canting and thieving slang
John S. Farmer's collection of canting songs and slang rhymes