When I was growing up in the 1950s I would listen devoutly to "Round the Horn", on the steam radio, with Kenneth Williams as Rambling Syd Rumpo and his minstrel songs.
He's right about the years, 1738 would have been the 18th century, since the 1980's were in the 20th century and we in 2023ish are in the 21st century.
Keep your hands off others moulies, for it is against the law. At the time, homosexuality was a criminal offence. Williams, a homosexual, was perhaps commenting on that situation (and making us laugh too).
Almost certainly! The name of "Chiswick Flo" is a sly reference not to a particular person, but to a particular place: The banks of the Thames in Chiswick, London used to be a popular spot for gay men to meet for a quick...encounter.