With rampaging lion about, maiden's in perilous position (3,2,1,4)
I believe the answer is:
out on a limb
'in perilous position' is the definition.
(to go out on a limb is to put oneself in danger)
'with rampaging lion about maiden's' is the wordplay.
'with rampaging' is an anagram indicator (letters rampage or rush around).
'maiden' becomes 'm' (cricket abbreviation).
'lion'+'about'+'m'='lionaboutm'
'lionaboutm' with letters rearranged gives 'OUT ON A LIMB'.
(Other definitions for out on a limb that I've seen before include "Wing-walking" , "Alone and in danger" , "In a vulnerable position" , "Exposed, vulnerable" , "questionably placed" .)