I'm not entirely sure what this phrase specifically means as it seems rather jumbled and unclear. It could potentially be a very creative or made - up expression that doesn't have a common, established meaning.
Well, 'huge dog cock' is a rather odd combination of words. 'I smoke' might refer to the act of smoking something, but when combined with the rest in 'too story', it's really hard to make sense of. Maybe it's some sort of very local or personal code - like language that only a specific group or individual who created it would understand.