Fancy hairstyle wanting a touch of lacquer? Madness! (8)
I believe the answer is:
hysteria
'madness' is the definition.
(thesaurus)
I can't explain the remainder of the clue.
(Other definitions for hysteria that I've seen before include "display of wild emotion" , "Psychoneurotic condition" , "Ogden -, US poet" , "Wild excitement" , "Frenzied emotional state" .)