Repartee's rank over lady confused about parking (8)

I believe the answer is:

wordplay

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'repartee's' is the definition.
(thesaurus)

'rank over lady confused about parking' is the wordplay.
'rank over' becomes 'wor' (I can't justify this - if you can you should give a lot more credence to this answer).
'confused' is an anagram indicator.
'about' is an insertion indicator.
'parking' becomes 'p'.
'lady' is an anagram of 'dlay'.
'dlay' enclosing 'p' is 'dplay'.
'wor'+'dplay'='WORDPLAY'

Can you help me to learn more?

(Other definitions for wordplay that I've seen before include "verbal shenanigans" , "Making puns" , "Punning" , "Wit" , "Puns etc" .)

I've seen this clue in The Independent.

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