Being high, it rhymes with 'height' (5)
I believe the answer is:
tight
'being high' is the definition.
(thesaurus)
'it rhymes with height' is the wordplay.
'it' becomes ''t' (abbreviation. e.g. in 'tis).
'rhymes with' becomes 'ig' (I can't justify this - if you can you should give a lot more credence to this answer).
'height' becomes 'ht' (abbreviation).
't'+'ig'+'ht'='TIGHT'
Can you help me to learn more?
(Other definitions for tight that I've seen before include "Squeezed" , "Steaming" , "South American nation" , "Drunk; giving little room" , "It's not enough" .)