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One of the loafers is sloshed - dropping LSD? (4)

Ross

I believe the answer is:

shoe

I'm a little stuck... Click here to teach me more about this clue!

'lsd?' is the definition.
The answer and definition can be both man-made objects as well as being singular nouns.
Maybe there's a link between them I don't understand?

'one of the loafers is sloshed dropping' is the wordplay.
I cannot quite see how this works, but
'of' could be 'o' and 'o' is found within the answer.
The remaining letters 'she' is a valid word which might be clued in a way I don't understand.
This may be the basis of clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for shoe that I've seen before include "Oxford, for example" , "Slingback, for example" , "Box for holding and dispensing from pack of cards" , "Last product" , "'For want of a nail the . . . . was lost'" .)

I've seen this clue in the Irish Times (Crosaire) and the Irish Times.
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