You are trying to translate broken English into correct German, while staying funny? :)

I agree with Soonix that "to wave" is better translated as "wedeln" (= to waggle) in this context, but I'm still struggling to translate it literally while keeping all subtexts ...

I looked up the way they translated it in the dubbed version and they say

"Ich wedele mit meinen Schwanzfedern euch Tünten zu."

which is

"I'm waggling with my tail feathers towards you nancies." + some typical French errors.

(Please note that "Tanten" means aunts / "Tunten" means nancies ... Tünten would be a way to reflect the French accent.)

As you see they changed some translation to make more sense.

Like another added line with a lot of recent actuality is "We will never let you enter the European Community ... "

Would be interesting to look up the French dubbed version now, couldn't find it yet. A version with French subtitles was also pretty free to keep it funny.