1) Launcelot is contemplating running away from his service to Shylock.
2) He pretends he's someone else, gives his father wrong directions, tells him that he's dead, and then admits he's been pulling a prank.
3) He says, "My master’s a very Jew. Give him a present. Give him a halter. I am famished in his service. You may tell every finger I have with my ribs." In other words, his father should give the Jew a noose to hang himself, as he's done nothing more than starve his son.
4) He requests that he be able to work for him, amazingly, Bassanio says that Shylock has already recommended him; the answer is YES.
His conscience in conflict with the fiend.