Fool, missing sweetheart, embracing Romeo's plan (5)
I believe the answer is:
chart
'plan' is the definition.
(I know that chart is a more specific form of the action plan)
'fool missing sweetheart embracing romeo's' is the wordplay.
'fool missing sweetheart' becomes 'chat' (I can't justify this - if you can you should give a lot more credence to this answer).
'embracing' is an insertion indicator.
'romeo' becomes 'r' (phonetic alphabet: alpha, bravo, charlie etc.).
'chat' going around 'r' is 'CHART'.
Can you help me to learn more?
(Other definitions for chart that I've seen before include "Visual display of information" , "Marine map" , "series of plots?" , "Navigational map" , "Nautical map" .)