"The name of the game is not to be alone in the boat," said the ambassador of Egypt of the "love boat" Egypt and Israel have been trying to paddle since signing the Mideast Peace Treaty here two years ago. "The object is to bring everything on board."

Yesterday about 250 fans of Jihan Sadat climbed on board for an afternoon tea at the Egyptian Embassy given by Ambassador Ashraf Ghorbal and his wife Amal in honor of the Egyptian first lady, who is making a cultural visit to several U.S. cities in conjunction with the "Egypt Today" exhibit. It reminded some guests of the historic signing of the accords at the White House, and Ghorba waxed optimistic about the future.

"Look at what is happening -- ships are passing through the canal, planes are going back and forth between the two countries. It's full relations," he said. Of former President Jimmy Carter's role: "We owe him a great deal. The world owes him a great deal. I am sure the Reagan administration is going to complete the peace process."

Jihan Sadat, who met President Reagan on Monday, said there had been no time to discuss the Mideast situation with him. "It was very short and he had invited guests to lunch.But," she added brightly, "his wife is very sweet."