Emcee and minder ejecting one that's drunk the liqueur (5,2,6)
I believe the answer is:
creme de menthe
'liqueur' is the definition.
(creme de menthe is a kind of liqueur)
'emcee and minder ejecting one that's drunk the' is the wordplay.
'and' says to put letters next to each other.
'ejecting' is a deletion indicator.
'one' becomes 'I' (Roman numeral).
'that's drunk' indicates an anagram.
'emcee' after 'minder' is 'minderemcee'.
'minderemcee' with 'i' taken away is 'mnderemcee'.
'mnderemcee' is an anagram of 'cremedemen'.
'cremedemen'+'the'='CREME DE MENTHE'
(Other definitions for creme de menthe that I've seen before include "alternative to 9 across [CHARTRESE] ?" , "spirit" , "Green peppermint-flavoured liqueur" , "booze" , "Peppermint liqueur" .)