"To lose one's shit" has a very similar meaning as "to lose one's mind" Except your mind is brown, ugly, smelly, often watery, and is being dropped in, and clogging toilets at an alarming rate, as we speak.
To lose one's shit, can be used in this
case.
Guy: Was Kanye on grass when he wrote "Lift Yourself"?!
Guy 2: Fo' sheezy nigga, he lost his shit.
used to describe the wildest part of a story is 101% true, no matter how insane it might seem
"i dropped my sandwich and i shit you not one cent, it landed perfectly back on the plate!"