Prize crossword compiler needing oxygen intake after cycling (7)
I believe the answer is:
rosette
'prize' is the definition.
(I've seen this before)
I cannot understand how the rest of the clue works.
(Other definitions for rosette that I've seen before include "Cockade" , "shape for diamonds" , "Prizewinner's decoration" , "Party wear" , "To steer (anag)" .)