Needs Improvement.
Now, don't mean to be a buzz kill in any way, but this is bad. The first problem is the guitar. It's way too distorted and quite frankly, too fake. A good song always has instruments and computer-generated sounds that are either realistic, or in the case of a non-existent instrument, original and nice sounding. If you're using FL Studio, play around with Sytrus a bit and make a guitar sound that is original. Secondly, the drums. In your song the drums are too loud, static-y and bland. Once again, try making something original and/or realistic, and don't overload on the sound. Finally, the song itself. The first thing I noticed was that the guitar and drums were offbeat, as in if compared to the real song, the guitar was 1 or 2 notes behind the drum line. This not only ruins the song, but in many cases indicates a lack of effort. I would suggest listening to the song MANY times before making your own version. Now don't commit suicide on me, many of these things can be corrected and in most cases these sort of mistakes will prove to shape someone into a good artist. Keep trying, and don't give up. I'm going to give you 5 because the Red Hot Chilli Peppers are my favourite band, and hopefully this is a tribute to their amazing music.