No, actually, it hovers up into the air and eventually enters the ventilation system of your home where it remains, smelling-up your humble abode for years to come. Where do you think it goes?
Oh...um, yeah, it'll all go down the drain. The larger chunks you should remove with your hands (or a shovel) and flush down the bowl. You don't want to risk clogging your sink drain.
ps
Next time, heave into the toilet...you can flush as you go. The smell of the blue-thing in the tank is curiously refreshing when your heaving into the porecelain god.