Dream I'm involved with a fabulous female! (7)
I believe the answer is:
mermaid
'a fabulous female' is the definition.
(I've seen this before)
'dream i'm involved' is the wordplay.
'involved' is an anagram indicator (involved can mean confusing or complex).
'dream'+'im'='dreamim'
'dreamim' with letters rearranged gives 'MERMAID'.
'with' acts as a link.
(Other definitions for mermaid that I've seen before include "Fabulous female" , "Sea-girl!" , "Fabulous woman" , "Mythical sea dweller" , "Woman-fish" .)