Spinning top making Peg drink with hesitation (8)

I believe the answer is:

teetotum

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'spinning top' is the definition.
(synonyms)

'peg drink with hesitation' is the wordplay.
'peg' becomes 'tee' (tee is a kind of peg).
'drink with' becomes 'tot' (a small alcoholic drink. I am not sure about the 'with' bit.).
'hesitation' becomes 'um' (sound made when hesitating).
'tee'+'tot'+'um'='TEETOTUM'

'making' acts as a link.

Can you help me to learn more?

(Another definition for teetotum that I've seen is " Top spun as gamble".)

I've seen this clue in The Daily Express.

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