A jug of porridge in the nick of time (6)

I believe the answer is:

prison

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I believe this clue is a triple definition!

'a jug' is the first definition.
(jug can informally mean a prison)

'of' is a link.

'porridge' is the second definition.
(British slang)

'in the' is a link.

'nick of time' is the third definition.
'prison' can be an answer for 'nick' (British slang). I am not certain of the 'of time' bit.

Can you help me to learn more?

(Other definitions for prison that I've seen before include "Place of detention for criminals" , "No rips (anag)" , "Cooler" , "Slammer" , "Place of incarceration" .)

I've seen this clue in the Evening Standard.

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