This interpretation attempts to preserve the descending bass line that gives this song its drive. 
I "stacked" the lyrics with numbered lines so that the similarity in chord structure of the parts is 
easier to memorize, like traditional sheet music. 

All the Young Dudes

                  D                                                D/C#
1.   Billy      rapped all night about his          suicide,
2.   And      Wendy's stealing clothes from   Mark's & Sparks and
3.               Lucy's looking sweet, ?cos he      dresses like a queen,
4.  And my  brother's back at home with his Beatles and his Stones

                      Bm                                             D/A
1. How he'd kick it in the head when he was twenty–five
2.                   Freddy's got spots from             ripping off the stars from his
3. But he can kick like a mule, its                 a real mean team, but
4. We             never got it off on that               revolution stuff

     F#m                                                  A                   Asus4  A
1.  Speed jive, don't wanna stay alive   when you're  twenty–five [to beginning of #2] 
2.  Face – a funky little                           boat race [to pre–chorus 2]
3.  We can love, oh yes, we can love [to beginning of #4]
4.  What a drag – too many                      snags [to pre–chorus 4]

PRE–CHORUS 
             Em                                        Em7
2.   The television man is                   crazy
4.    Well I drunk a lotta wine and I'm feelin' fine
                          F#                          Bm
 2.  sayin' we're juvenile delinquent wrecks
 4.  Gonna        race some cat to     bed
                 G                    D                           A       Asus4  A
 2.  Oooh, man, I need a TV when I've got  T. Rex
 4.  Is that concrete all around or is it in my head?
  
2. Oh brother, ya guessed ? I'm a dude yeah!
4.  Yeah, I'm a dude yeah!

CHORUS
D      D/C#              Bm
         All the young dudes 
D/A        Am
Carry the news 
Am7/G      F
Boogaloo dudes 
C             G       C  A  D
Carry the news
 
[Continue chorus as long as desired, improvising comments about dudes in between sung lines]