Take foolish risks in drama, and shoot (4,4,4)
I believe the answer is:
play with fire
'take foolish risks' is the definition.
'drama and shoot' is the wordplay.
'drama' becomes 'play' (synonyms).
'and' becomes 'with'.
'shoot' becomes 'fire' (firing is a kind of shooting).
'play'+'with'+'fire'='PLAY WITH FIRE'
'in' is the link.
(Other definitions for play with fire that I've seen before include "Be involved with something risky" , "Take dangerous risk" , "Engage in something risky" , "Promethean drama?" , "Put oneself in danger" .)