I wrote this one off in the face of Out of Order's super challenge, and I apologize for that. Now let's give this the attention it deserves!
First pass:
We have a fuse, a clothes pin, an "N", a clothes pin and a fuse
"the"
droopy T
Second pass:
...delayed explosion, hang on clothes, "N", hang on clothes, delayed explosion... I think we're getting somewhere now
Tee Aych Ee
Downer T
Third pass (we got a doozie!):
Impending doom dry, N, dry impending doom
teeyachee
Down T
Fourth pass:
Impending (doomdry and drypend) ding doom
Tai chi
Downtown
Oh, now I got it!
Final answer!
Impending nonsense rings your doorbell threateningly, but you know Tai Chi so you beat it up, slap it sideways, and and take it down! (town)
Whew! Challenge accepted and conquered!