The engine doesn't care about whether you need to drive it a little longer. It's busted, and you need to fix it.
I've seen lots of spark plugs blow out. No fires. That's not the point though.
It's bad enough now that a heli-coil, or an insert, is the only repair. Heli-coils are best, and if it isn't number 4 spark plug, the repair may take about 10 minutes if you find a skilled tech. I've done lots of them.
As to chips, just grease on the tap and that's it. Crank the engine with the plug out, and then fire it up. It's just aluminum bits after all, and they'll blow out the exhaust port so fast the engine will never know.