Party girl ate nuts (5,2)

I believe the answer is:

large it

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'party' is the definition.
I don't know anything about this answer so I cannot judge whether it can be defined by this definition.

'girl ate nuts' is the wordplay.
'nuts' is an anagram indicator (nuts can mean crazy).
'girl'+'ate'='girlate'
'girlate' with letters rearranged gives 'LARGE IT'.

Can you help me to learn more?

(Other definitions for large it that I've seen before include "Have a good time" , "Splash out" .)

I've seen this clue in The Independent.

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