It's a misquote of the phrase "Let the cards fall where they
may" which refers to one's fortune being told by a tarot card
reader. The card reader generally asks her client if he has any
preference in how she would lay the cards out and this was the
usual response.
"Chips" refers to chips of wood. This phrase also uses the image
of a person chopping wood and letting the chips fly everywhere
instead of trying to be neat and chop on one side so they'll fall
in a pile.
At any rate, the idiom means "let things happen the way they are
supposed to happen."