No, John. The term has 2 meanings, both of which involve heaving an object as far into the air as you can (hence "loft"):
Meaning 1: Take a large earthenware container, preferably one which has been used to ferment kim chi, and toss it in the air.
Meaning 2: Find a large pile of bull dung (otherwise known as a "crock") and toss it in the air, preferably toward someone who is not your favorite person.
Neither of these should be confused with the term "cock loft", which, although it also means to toss something in the air, refers to a male chicken as the object tossed.
;D 8) :