Yes, it can happen. I posted that very saying on a thread yesterday - but I said, "smoke yourself straight".

However, if you sit down with about an ounce of very strong hash, and just keep smoking continuously, not even inhaling, for a few hours, you will most likely NOT smoke yourself straight. You'll get extremely stoned, possibly even "tripped-out". That's an old cultural tradition in some countries that make hash, because it's cheap and plentiful.