I'm not hip to your jive
I am not understanding what you are doing
I am not agreeing to your actions or words
Being "hip to the jive" is more 1960'2 Beatnik era-speak than current slang.
In this context:
hip = knowledgeable
jive = nonesense
It basically means: I don't understand you, you're not making sense, you're crazy.
Hip can also mean trendy.
Jive can also mean a lie or lie to:
That's jive. = That's a lie or that's nonesense.
Don't jive me. = Don't lie to me or don't fool around with me.
You're jiving me. = You're lying or you're joking.
Jive also refers to the swing style of jazz, as in the songs "Jive at Five" and "Jumpin' Jive."