You and I have time to get soaked (3)
I believe the answer is:
Here is my best explanation:
'soaked' is the definition.
('wet' can be similar in meaning to 'soaked')
'you and i have time' is the wordplay.
'you and i' becomes 'we'.
'have' means one lot of letters go next to another.
'time' becomes 't'.
'to get' acts as a link.
(Other definitions for wet that I've seen before include "Moisture; feeble (colloq.)", "Soaked with water", "Watery", "Moistened", "Rainy; feeble person", "Damp", "(Of weather) rainy", "Moderately Conservative", "Moist or Soaked" and "Saturated with liquid".)