Not quite sure how this works. Will turbotax automatically send my filings to the CRA and RQ after I select a payment method?

No. You will need to submit your return, if you are preparing your returns yourself.

This FAQ tells you how to submit your tax return to CRA using the NETFILE service in TurboTax CD/Download: https://turbotax.community.intuit.ca/community/federal-taxes-netfile/help/in-the-cd-download-edition-of-turbotax-how-do-i-submit-my-tax-return-to-cra-using-the-netfile/00/873419