Rent your locks and feathers and have a great unbridled time (3,4,4,4)

I believe the answer is:

let your hair down

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'have a great unbridled time' is the definition.
I know nothing about this answer so I can't tell whether it can be defined by this definition.

'rent your locks and feathers' is the wordplay.
'rent' becomes 'let'.
'locks' becomes 'hair' (I've seen this before).
'and' is a charade indicator (letters next to each other).
'feathers' becomes 'down' (down is a kind of feathers).
'let'+'your'+'hair'+'down'='LET YOUR HAIR DOWN'

'and' acts as a link.

Can you help me to learn more?

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

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