North Mexican slang.
In a literal sense it suggests that you’re going to be carried by the dick.
The pc/kid friendly version is te va cargar el payaso, which means you’re going to be carried by the clown.
Both meanings suggest someone’s going to catch a beating, be taken by the waves in a sense or basically to say: You’re dead.
Bro, I just saw your wife blowing Donald Trump.
Tell him: Te va cargar la verga.
You know I can’t do that, he’s the former president of the USA.