"Me and this girl been on the phone, arguing, for an hour," Flex said, introducing the interview.
Minaj pulled out of the show after inflammatory remarks earlier in the day from the station's Peter Rosenberg, who took aim at the rapper's hit "Starships," calling it not "real hip-hop."
"Young Money ain't doing summer jam," Lil Wayne tweeted after the diss, with Minaj adding of her label boss, "What he says, goes."
"My fans did not appreciate [Rosenberg]'s comment," Minaj told Flex on Monday night, discussing how Rosenberg's offensive remarks had streamed to online viewers as well as the thousands in the venue.
"You know what, I wouldn't come on your stage when it's about us uniting people to come and see a show, I wouldn't say something to my fans, negative, leading up to that concert. Everyone is grown enough to keep opinions to themselves," Minaj said after Flex referred to Rosenberg's comments as an "opinion."
"I am not a joke -- let me finish," she said as the two attempted to talk over each other. "When you disrespect Nicki Minaj, you're disrespecting my fans. I don't have a problem with anyone saying what they have to say to me. But don't make ['Starship' fans] feel inferior in any way for their personal taste in music."
According to Minaj, it was her management and Wayne who made the call not to perform.
"I am not a quitter. I don't back down from anything, including a show where someone's talking about me," Minaj said. "Wayne gave me a valuable lesson last night on knowing my worth… he tweeted before he called me."
According to Minaj, her label and management reached out to Hot 97's program director after making the decision to exit the show and did not receive a satisfactory response in the hours between the decision and her scheduled performance.
The rapper also took the opportunity to call out Rosenberg for picking her out of the heavily male lineup to insult.
"If that's not some bitch-ass shit -- for this person to single out the only female on the bill, I'm holding it down for women. I respect men who are real men, but if all you do is take shots at women…," Minaj said.
Fellow female MC Azealia Banks did perform at the event's Festival Village stage, with an unannounced Lauryn Hill joining Nas later in the evening. Minaj also addressed Flex's comments about her record sales.
"Yesterday, you made a lot of disrespectful comments about me," Minaj said, turning to Flex himself. "This is the real reason why I called you -- you said something about my record sales. I want you to pull up your roster from yesterday and i want you to listen to these statistics," she said before dropping numbers about her albums' multi-million sales figures.
Amidst the arguments, Minaj promised to make up the missed show to her New Jersey barbz.
"I'm going to do a free show this summer for my fans," Minaj said.