Yes, the person might survive from a punctured lungs because
there are reserve space as we all have an oversized lungs...thanks
to GOD. But it will still have to depend on the size of the
bone/damage you are talking about.
When the blood enters the lungs, the person will be breathing
blood which is an extremely painful process.....10 times more
painful than having water in your lungs. 
ya, very painful one, that is why God gives we gal breasts to
protect our lungs, we added bra for reinforcement.
