Engineer ready to engage in flipping crazy fantasy (8)
I believe the answer is:
daydream
'fantasy' is the definition.
(I've seen this before)
'engineer ready to engage in flipping crazy' is the wordplay.
'engineer' indicates anagramming the letters.
'to engage in' is an insertion indicator.
'flipping' is a reversal indicator.
'crazy' becomes 'mad' (synonyms).
'mad' reversed gives 'dam'.
'ready' is an anagram of 'aydre'.
'aydre' placed into 'dam' is 'DAYDREAM'.
(Other definitions for daydream that I've seen before include "Distracting thoughts" , "Diurnal reveries" , "Indulge in a fantasy" , "(Indulge in) idle reverie" , "Wool-gather" .)