Not good time to squeeze in witty conversation (8)
I believe the answer is:
badinage
'witty conversation' is the definition.
(I've seen this before)
'not good time to squeeze in' is the wordplay.
'not good' becomes 'bad' ('bad' is the opposite to 'good').
'time' becomes 'age' (an age is a period of time).
'to squeeze' is an insertion indicator (inserted letters are squeezed inside).
'bad'+'age'='badage'
'badage' placed around 'in' is 'BADINAGE'.
(Other definitions for badinage that I've seen before include "Drollery" , "Backchat, banter" , "Frivolous banter" , "Humorous, witty conversation" , "Good-natured banter or teasing" .)