Of course not! They fix cuts on the skin! To fix bullet holes, you need another remedy.

This clearly seems like a line that wants to draw a contrast between the "she" and "I" in question. but since the two garments referred to are worn on different sections of one's body, no clear contrast comes out of the line, since one can wear both a short skirt and a t-shirt at the same time. In fact, I've done so myself. About the only way to pull a clear contrast out of the line is to assume that the singer means to imply that each garment referred to is all that is worn by the one said to wear it. But I doubt that that is the intention (if for no other reason than that I know too many parents who allow their kids to freely listen to Taylor Swift). Still, it is pretty funny if one contemplates this only interpretation that will draw a clear contrast from the line! (At least the corresponding line in the second verse -- "She wears high heels, I wear sneakers" -- is more of an actual contrast, because those are two different types of shoes.)