Probably written about 1975. I remember the car I was driving at the time, which inspired the opening line. This was recorded by the Skydogs on the same day in 1976 as "The Bone Song." Listen to Wayne Brusseau's absolutely killer bass and the groove of the drums and congas. There is an updated version of the song (updated in 1978 or so...!), recorded in higher fidelity and with a better chorus lyric, which I may post at some point as well.
Douglas Baldwin - guitar, lead vocal
Stephen Ramirez - guitar
Wayne Brusseau - bass, sadly inaudible harmony vocal
Scott Kistenberger - congas
Bill Grillo - drums

Lyrics

(Douglas Baldwin)

I've been cruising over the limit for a long time now
Well, they tell me I gotta slow down but they don't tell me how
And I watch them running in circles and I watch them as they fall
Just waitin' like children to get picked back up before the Clarion call

[CHORUS]
Well, now
I'm lookin' over my shoulder
To see a skeleton dancin' over the cities and the towns and
I feel the air gettin' colder
As I look back over my shoulder
Waiting for Armageddon to come around

I see madness in their faces, and I see hunger in their eyes,
Laughter from the skeleton dancing like thunder over the skies
Would you wait for your own execution? Put your heart to the knife?
I've got nothing to fear from dying myself but I get so much more out of life

[Repeat Chorus, solo on solo form 'till cue]

I've been cruisin' towards the horizon trying to meet up with the road and the sky
Aw, well they tell me I gotta come back but they don't tell me why
Well maybe they got something better for me they believe I'm supposed to do
But I got a few things that I want to try first before my life is through

[Repeat Chorus 2x, then touch gently down]