Green’s Dictionary of Slang

a state, a panic.

1938		J. Curtis They Drive by Night 103: Give us a hand out, will you? I’m in a right two and eight.
1958		F. Norman Bang To Rights 150: The geezer was getting in a right two & eight.
1969		F. Norman Norman’s London 23: I was greatly alarmed to see John in such a two and eight.
1979		R. Barker Fletcher’s Book of Rhy. Sl. 39: He is in a right two-and-eight.
1981		B. Hoy ‘Uncle George’ in Wright Cockney Dial. and Sl. (1981) 109: Britannia’s gawn right up the Swanee, / Wiv closed minces we foller the oafs. / We’re in bad two-an’-eights / Buckle to, mi ol’ mates / And for cryin’ aht lahd use yer loafs!
2003		Guardian Weekend 22 Feb. 7: We’re in a right two and eight.
2012		Spitalfields Life 25 Apr. 🌐 With this sign [i.e. a price tag for 2s. 8d.] Paul Gardner [...] eloquently expresses the situation that he and other small independent traders find themselves in. ‘2 & 8’ is rhyming slang for ‘a bit of a state’ .