The most common and most likely answer to this crossword clue is the 6 letter word RAGING
I've seen this crossword clue in The Times
R
A
G
I
N
G
Buddy explains!
The straight part
We know that "having a boozy musical party" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case having a boozy musical party = raging.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RAGING mean?
RAGING verb- To act or speak in heightened anger.
- (sometimes figurative) To move with great violence, as a storm etc.
- To enrage.
- A display of rage.
- Volatile, very active or unpredictable.
- (of a person) In a state of rage; in a state of extreme, often uncontrollable, anger.