Neither. It is an informal expression meaning "It's about to get very exciting." The image is of one's hat being blown off by the wind of acceleration.
Cliche's.
Hang Your Hat on the Wind - 1969 is rated/received certificates of: USA:G
No it is an idiosyncrasy.
No, an idiom is a phrase or expression that has a figurative meaning different from its literal meaning, while a cliche is an overused phrase or idea. Idioms are more unique and colorful in their language use, whereas cliches can be seen as trite or lacking in originality.
Georgia Traveler - 2006 A Place to Hang Your Hat was released on: USA: 22 October 2010
Disneyland - 1954 Hang Your Hat on the Wind 17-10 was released on: USA: 29 November 1970
It is definitely possible to hang clothing items other than hats on a hat rack. However, one might need to hang smaller pieces as the racks are smaller sized since they are based upon the sizes of hats. One can hang lighter jackets, gloves and even scarves on a hat rack.
You go on ahead, and I'll hang around.
The A in hang has a short A sound, as in hat and sang. (this sounds slightly different from the short A in ant or am)
"Hang" is typically pronounced with a short 'a' sound, like in 'hat'.
candles
You hang around while I go on ahead.