Bloody wild orgy! (4)
I believe the answer is:
gory
'bloody' is the definition.
(similar in meaning)
'wild orgy' is the wordplay.
'wild' is an anagram indicator.
'orgy' anagrammed gives 'GORY'.
(Other definitions for gory that I've seen before include "Covered in blood" , "Horrific" , "Violent; bloody" , "Involving much blood" , "Steeped in blood" .)