Underwear in record time! (7)
I believe the answer is:
singlet
'underwear' is the definition.
(I've seen this before)
'record time' is the wordplay.
'record' becomes 'single' (I've seen this before).
'time' becomes 't' (abbreviation).
'single'+'t'='SINGLET'
'in' is the link.
(Other definitions for singlet that I've seen before include "Sleeveless vest" , "One unaccompanied" , "Tingles in vest" , "top gear" , "Sleeveless shirt" .)