You can make this a macro and trigger it with just a hot key.
Select Start Recording in the Macro menu. Open the search dialog, in the “Find what” field just type three characters: “:.*” (that’s a colon, period, and asterisk). In the “Replace with” field enter just a single colon. Switch search mode to “Regular expression”, and make sure “matches new line” box is not checked, and hit Replace All.
Now Stop Recording in the Macro menu, and then Save Current Recorded Macro. Give it a name and optionally a hot key, and note you can run it from the Macro menu or the hot key.