Jean-Claude Van Damme is at it again emulating Arnold, that is. Like Schwarzenegger, who starred in the video for Guns N' Roses' Terminator 2 hit, ''You Could Be Mine,'' the Muscles from Brussels has hooked up with a cool band of his very own. The Smithereens' clip for ''Time Won't Let Me,'' a 1966 Outsiders' classic the power popsters covered for the bare-chested Belgian's upcoming adventure film, Time Cop, features Van Damme as a time machine operator who whisks the New Jersey group's members through history. Says Smithereens frontman/guitarist Pat DiNizio: ''I was always a sucker for the action genre. In fact, I bought Hard Target on laserdisc.'' Van Damme, clueless about his costars before they met, was nonetheless charmed, if typically voluble: ''They're nice, funny guys.'' Expect to see the video on MTV in the next month.