I accidentally cooked oil beyond the smoke point for way too long. Could hardly breathe in the kitchen etc. It's cooled down now and I know it's toxic so my question is what to do with the oil? Can I safely throw it in the sink and simply clean the pot or do I need to do more than that to ensure everything is safe?
It's good that you let the oil cool down first before disposal. The first thing I want to mention is that you shouldn't dump large amounts of oil in the sink, because it's improper disposal and it may lead to clogs in the pipings.
The one method of oil's disposal I follow is that once the oil is cooled down, dump the oil in a disposable container (like an empty carton or plastic bag). Then, dispose the container as usual in your waste container for the landfill.
For your cookware, you may have to take additional steps if you have oil burned into the pan. This website lists several methods for you to look at if you need any further guidance on removing the stuck-on bits