Aerosmith were due to headline festival in July
Elton John also receives special award and Smokey Robinson debuts new song at the New York ceremony
The 65-year-old frontman admits to blowing $6million on cocaine
Steven Tyler also reveals he refers to vaginas as "the holy grail"
'Music From Another Dimension!' is set for release in November
Singer leaves to focus on his band's forthcoming new album and world tour
Band's 15th studio album is due out in late August
Guitarist says veteran rockers' new material will be 'modern and hi-fi'
But axeman promises fans their 15th studio album will be significantly better than 'Honkin' On Bobo'