One working with Cupid to recover love lost (5)

I believe the answer is:
comet
'one working with cupid to recover love lost' is the definition.
Although both the answer and definition are singular nouns, I cannot see how one could define the other.
'one' is the wordplay.
I cannot really understand how this works, but
'one' could be 'me' (a setter might use 'one' to humourously mean 'me') and 'me' is located in the answer.
The remaining letters 'cot' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for comet that I've seen before include "Line of rotation" , "One is named after Edmond Halley" , "body found in space" , "Dancer's colleague" , "Omen supposedly" .)
