You try to catch the chip as it falls to the ground, but to no avail, and then there's only one last hope: the five-second rule. Whether or not that rule actually matters, though, depends on how clean your floor is, so grab the cleaning instruments you need, and then you'll be set to observe and enforce the law of the land.
Think about all of the things you walk on during the day. Well, when you get home, your floor has to deal with that crap. And it has to keep dealing with it until you wash it away.