Drop off last reef with everyone (4-4)

I believe the answer is:

free-fall

'drop' is the definition.
(I know that free fall is a type of drop)

'last reef with everyone' is the wordplay.
'last' becomes 'f' (I've seen this in other clues).
'with' says to put letters next to each other.
'everyone' becomes 'all' (all people).
'f'+'reef'+'all'='FREE-FALL'

'off' acts as a link.

I've seen this clue in the Sydney Morning Herald.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.