。
Let's just bypass the protection circuit.
Literal
Protection circuit [obj-を] skip-complete-let's.
飛ばす here is 'to skip over, bypass' — an extended use of the core meaning 'to make fly.' 飛ばしてしまおう stacks the volitional of the ~てしまう ('go ahead and finish,' with a 'might as well' or 'reckless' flavor) auxiliary. The sentence has a 'to hell with it, let's just do it' energy, which is exactly the flavor ~てしまう adds to a decision.