Vest in record time! (7)
I believe the answer is:
singlet
'vest' is the definition.
(I know that vest can be written as singlet)
'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 "garment worn by men" , "Sleeveless vest" , "Sleeveless shirt" , "Tingles in vest" , "Underwear" .)