This is actually a cover of Schoolly D's Treacherous, over Get Down, Make Love by Nine Inch Nails. The scratching parts are DJ Code Money from the original track. High-C did the rap, and Wreckshin did the Last Poets/Gil-Scott Heron-inspired intro, a modified version of the original.
The nerdcore connection? Schoolly D does the theme for 'Aqua Teen Hunger Force'. Duh.
Interesting note. Ice-T