It is a slang word that is defined as "a disreputable, disgusting, or despicable person," but in colloquial English it is almost always used in a way that it means "misogynist," or a man who does not treat women with any respect.
SO to say "I mean sleazebag alert" (repeating it), you place extra emphasis on the fact that that character is REALLY disreputable. Further, in speech, you would want to emphasize the word "sleezebag."