You two-timing bastard

Hello!

I understand what 'you two-timing bastard' means. I just can't explain the lack of the verb after the pronoun.

Cheers,
Tito

It's an invective in the form of addressing someone.

You can address someone without a verb. It tends to be more often negative than positive.

You jerk!
You bumbling idiot!
You wonderful, sweet, darling man!