Feeling euphoric while travelling by hovercraft? (8,2,3)

I believe the answer is:

floating on air

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'feeling euphoric while' is the definition.
I know nothing about this answer so I can't judge whether this works.

'travelling by hovercraft?' is the wordplay.
'travelling' becomes 'floating' (floating is a kind of traveling).
'by hovercraft?' becomes 'onair' (I am not sure about this - if you are sure you should believe this answer much more).
'floating'+'onair'='FLOATING ON AIR'

Can you help me to learn more?

I've seen this clue in The Hindu.

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