Island commanders riding in unbalanced chariot (10)

I believe the answer is:

madagascar

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'island' is the definition.
(island nation)

'commanders riding in unbalanced chariot' is the wordplay.
'commanders riding' becomes 'agas' (I can't explain this - if you can you should believe this answer much more).
'in' is an insertion indicator.
'unbalanced' becomes 'mad' (synonyms).
'chariot' becomes 'car' (I've seen this in other clues).
'mad'+'car'='madcar'
'agas' inserted inside 'madcar' is 'MADAGASCAR'.

Can you help me to learn more?

(Other definitions for madagascar that I've seen before include "Island republic in the Indian Ocean" , "Island off SE Africa" , "country" , "film" , "Island republic of Africa" .)

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

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