милота́ ‘cuteness, niceness’ is a colloquial noun from the adjective ми́лый ‘cute, nice, sweet, kawaii’.
сте́пень (nom sg) милоты́ (gen sg) ‘degree of cuteness’
зашка́ливает (impf pres 3 sg) (inf: зашка́ливать) ‘go off-scale’, ‘exceed the limit’

Сте́пень милоты́ сего́дня зашка́ливает. ‘The degree of cuteness exceeds the limits today’, ‘The cute-o-meter returns an off-scale reading today’, something like that.