Cocktail Indian spilt in fast car (3,3,2)
I believe the answer is:
gin and it
'cocktail' is the definition.
(gin and it is a kind of cocktail)
'indian spilt in fast car' is the wordplay.
'spilt' indicates an anagram.
'in' is an insertion indicator.
'fast car' becomes 'gt' (abbreviation for Grand Tourer).
'indian' anagrammed gives 'inandi'.
'inandi' placed within 'gt' is 'GIN AND IT'.
(Other definitions for gin and it that I've seen before include "Alcoholic mixed drink" , "A tipple" , "Kind of cocktail consumed in dating" , "Commmitting double marriage" .)