Answering my own post in case it's useful in the future. With some generous assistance from Cathy Meder-Dempsey, I ended up with the transcription:
Dua martii 1702 baptizatus Franciscus filius legitimus Jois de la Cave et Maria [Hai?] conjigum commorantium in Strassen parochianorum Weimerskirchen susceptoris Franciscus [family name unclear] [possible occupation] et sartor et Susanne Karmes filia libera Nicolai Karmes ex Strassen.
Which translates to:
Baptized second March 1702 Franciscus legitimate son of Jois de la Cave and Maria [Hai? ] married couple residing in Strassen parish Weimerskirchen godparents Franciscus [family name unclear] [possible occupation] and tailor and Susanne Karmes single daughter of Nicholas Karmes from Strassen.