Found this interesting little description on the intertubes which really adds a lot to the song.

The meaning: In an Eastern philosophy "horses" are symbolic/representative of the 5 senses - the things that keep us tied to the physical/material plane of existence. When you can transcend the limitations of these senses and achieve a higher level of consciousness, you are leaving the "horses" behind - "flying over them." The song is about someone who was so affected by (A loss? A breakup?) they decide to give up the things that keep them tied to this world by emotion.