The meaning of "you can give in, you can give out but you don't give up"
Solution 1:
Your proposed rephrasings are correct.
- "give in": to agree or to admit defeat after a time
- "give out": to break down, to stop working
- "give up": to stop trying
The "to complain" meaning of "give out" seems to be regional and informal. Unlikely the meaning meant here.