Rise quickly and dance with nothing on (7)

I believe the answer is:

balloon

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

'rise quickly' is the definition.
'balloon' can be an answer for 'rise' (thesaurus). I am not sure about the 'quickly' bit.

'dance with nothing on' is the wordplay.
'dance' becomes 'ball' (ball is a kind of dance).
'with' is a charade indicator (letters next to each other).
'nothing' becomes 'O' (O resembles 0).
'ball'+'o'+'on'='BALLOON'

'and' acts as a link.

Can you help me to learn more?

(Other definitions for balloon that I've seen before include "Inflatable sphere, may contain hot air" , "One blown up for party" , "Inflatable thin rubber ball" , "Swell, increase rapidly" , "Bag filled with gas or air" .)

I've seen this clue in The Independent.

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