繰る is "to spin" (so spinning) and 返す is "to return" (so returning). Put them together and you have something that's spinning and returning to the same spot over and over. Something that does that is repeating itself, making this to repeat or to repeat over and over.
The readings come from 繰る and 返す. Combine them together to get the reading.
Can’t you stop repeating the same mistakes over and over?