To do something without worrying about the effects of your actions. Whatever happens, happens.

Another way? We are going to do this thing and we don't care what happens as a result. We know there are risks involved in doing something and we are willing to take those risks and we are not worried about the risks, they are not going to have a significant affect on the outcome. I hope that gives a clear idea of the expression. We are going to cut down this tree with an ax and every time we swing the ax we cut the tree and make wood chips and we are going to go ahead and cut down the tree and we don't care where the wood chips fall, the tree will be cut down, regardless of all the wood chips. The expression came from cutting wood.