Mazda RX-7 driven so hard, the wheels fall off
When someone exclaims, "drive it like you stole it!" they don't expect you to race through 30mph zones at 100mph, nor jump traffic lights in a bid to shake traffic cops off your tail.
The same applies when someone tells you to "drive it until the wheels come off". Yes, they probably want you to depress the accelerator and take the next corner at a slightly, er, unadvised speed but they are unlikely to actually want the wheels to come off.