In wa-mā in arā, the basic negation comes from mā. The following in is treated here as an emphatic extra particle, not as the beginning of an independent conditional clause. The sense is close to “I certainly do not see”.
Arā is a first-person imperfect: the woman states her own judgment. ʿAnka indicates movement away from the addressee. Al-ghawāyata tanjalī concerns this errant passion clearing away from him.
Tanjalī conveys removal, clearing, or becoming unobscured, with the relevant root family j-l-w / j-l-y. Her statement is that she sees no sign of his conduct abating.