Drink you're glugging like some of the black stuff! (4)
I believe the answer is:
inky
'like some of the black stuff' is the definition.
'drink you're glugging' is the wordplay.
'glugging' indicates the answer is hidden within the clue.
'INKY' can be found hidden inside 'drink youre'.
(Other definitions for inky that I've seen before include "Like the printing trade" , "Pitch-black" , "Jet" , "Black; drunk (Aus. sl.)" , "Dark; stained" .)