Think it's about time to act as go-between (8)
I believe the answer is:
meditate
'think' is the definition.
(I know that meditate is a more specific form of the action the think)
'about time to act as go-between' is the wordplay.
'about' is an insertion indicator.
'time' becomes 't' (abbreviation).
'to act as go-between' becomes 'mediate' (I've seen this before).
't' going within 'mediate' is 'MEDITATE'.
'it's' is the link.
(Other definitions for meditate that I've seen before include "Spend time in thought" , "Reflect upon" , "Ruminate" , "Muse" , "Focus one's mind for a period for spirituality or relaxation" .)