After reading your post again, I see that it wasn't a one off at all, and that the cousin has been there several times when you have visited and the "in-jokes" have happened on more than one visit. In that case, I think if the friendship is important to you, you arrange to meet up without the cousin being present, even if that means taking your friend to a different venue. You say she never visits you because she can't drive, but could she use public transport /taxi to occasionally come to your house, or as others have suggested, is there somewhere nearer to her that she could get to, where you could meet up? As you describe it, it does seem as if you do all the running, so to speak. If you are happy with that, that's fine, but it seems as if you are becoming unhappy that her cousin is there regularly when you visit, and the in jokes continue - and it is that that needs addressing. Perhaps this friendship has run its course? (Only you can know that, though).
I hope you resolve the issue, but feeling uncomfortable every time you visit can't continue.