A fun time for drunken peers (5)

I believe the answer is:

spree

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'a fun time' is the definition.
'spree' can be an answer for 'time' (I have seen 'Unrestrained time ' mean 'spree' so perhaps 'time' could also mean 'spree'). I am not certain of the 'a fun' bit.

'drunken peers' is the wordplay.
'drunken' indicates an anagram.
'peers' with letters rearranged gives 'SPREE'.

'for' is the link.

Can you help me to learn more?

(Other definitions for spree that I've seen before include "Junket" , "Bout of self-indulgence" , "orgy" , "Self-indulgent bout" , "Spell of wild activity" .)

I've seen this clue in the Evening Standard.

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