Swallow penalty from time to time (3)
I believe the answer is:
eat
'swallow' is the definition.
(swallow can mean to consume or eat up)
'penalty from time to time' is the wordplay.
'from time to time' means one should take alternating letters (letters removed on a regular basis).
The alternate letters of 'penalty' are 'EAT'.
(Other definitions for eat that I've seen before include "Bite, chew and swallow" , "and 27: Be humiliated" , "Break bread" , "Consume for tea" , "Ingest" .)