My interpretation is that this is about leaving things too long.
For example, having aspirations to do well in life etc, then not following (or "chasing") them until its too late ("Chasing the ghost").
The wings are the means of transport to reach your goals, hence you need wings of 'steel' in order to be strong and achieve them. However, if your wings are "on fire" or "tired", it means you "Cant get there from here".
The idea of "Chasing the ghost of time" is that you can never catch time, hence its a ghost (intangible).
My interpretation is that this is about leaving things too long.
For example, having aspirations to do well in life etc, then not following (or "chasing") them until its too late ("Chasing the ghost").
The wings are the means of transport to reach your goals, hence you need wings of 'steel' in order to be strong and achieve them. However, if your wings are "on fire" or "tired", it means you "Cant get there from here".
The idea of "Chasing the ghost of time" is that you can never catch time, hence its a ghost (intangible).