Burlesque item lit up by old nurse with nothing on (7)
I believe the answer is:
lampoon
'burlesque' is the definition.
(I know that burlesque can be written as lampoon)
'item lit up by old nurse with nothing on' is the wordplay.
'item lit up by old nurse' becomes 'lamp' (eg Florence Nightingale).
'with' is a charade indicator (letters next to each other).
'nothing' becomes 'O' (O resembles 0).
'lamp'+'o'+'on'='LAMPOON'
(Other definitions for lampoon that I've seen before include "Piece of writing that ridicules someone" , "Satirise, ridicule" , "joke" , "Pool man (anag)" , "Mock" .)