With the aim to reveal universal features of hadronic matter and correlatedDirac insulators in strong AC-electric fields, we study the $\mathcal{N}=2$supersymmetric QCD with a finite quark mass driven by a rotating electric field$\mathcal{E}_x+i\mathcal{E}_y= E e^{i\Omega t}$. The analysis is done in theholographically dual D3/D7 system in the co-rotating frame, effectively. Thenonequilibrium phase diagram is determined from the threshold electric field atwhich the insulator phase breaks down to a conductive phase due to the ACversion of the Schwinger mechanism. The external field induces a rotatingcurrent $\mathcal{J}_x + i \mathcal{J}_y = J e^{i\Omega t}$ originating fromvacuum polarization and dissipative current in the insulating and conductivephases respectively. Intriguing features are observed as the frequency $\Omega$approaches resonance with the meson excitation energy $\Omega_{\rm meson}$.There, the threshold minimizes and a condensate of vector mesons withoscillating current exists even in the zero driving field limit. This state,which we call Floquet condensate of vector mesons, is expected to bedynamically stable realizing a non-thermal fixed point that breaks timetranslational and reversal symmetries. Our finding has many similarities withexciton BEC discussed in solid state systems, where the semiconductor is to bereplaced by materials hosting gapped Dirac electrons, e.g. 3D topologicalinsulators or bismuth. Vector meson Floquet condensate may also haveimplications in the pre-thermalized dynamics in heavy ion collisionexperiments.