Follow tots around in increasing panic (8)
I believe the answer is:
tailspin
'increasing panic' is the definition.
(I've seen this before)
'follow tots around' is the wordplay.
'follow' becomes 'tail' (both can mean to chase or pursue).
'tots' becomes 'nips' (I've seen this before).
'around' shows that the letters should be reversed in order.
'nips' written backwards gives 'spin'.
'tail'+'spin'='TAILSPIN'
'in' acts as a link.
(Other definitions for tailspin that I've seen before include "Spiral dive of aircraft in trouble" , "Chaotic situation" , "awful state" , "State of rapidly increasing panic" , "confused state" .)