To throw down the gauntlet means to issue a challenge, but this context says that the speaker will be happy to accept even if there is no challenge issued.
Consider the staetement "Oh, baby, we both know that if you don't challenge me I 'll be only too happy to pick it up.". Based on this statement, is "Oh, baby, we both know that if you throw down the gauntlet I 'll be only too happy to pick it up." a true statement? Yes/no/unknown