Bandage cut, drinking whiskey (7)
I believe the answer is:
swaddle
'bandage' is the definition.
(I've seen this before)
'cut drinking whiskey' is the wordplay.
'cut' becomes 'saddle' (saddle is a kind of cut).
'drinking' means one lot of letters goes inside another (inserted letters are consumed or drunk).
'whiskey' becomes 'W' (phonetic alphabet: alpha, bravo, charlie etc.).
'saddle' going around 'w' is 'SWADDLE'.
(Other definitions for swaddle that I've seen before include "Bandage - wrap (baby) tightly" , "Wrap with bandages" , "Wind bandages round" , "Fully cover" , "Wrap in cloth" .)