Alexander,
Anyone has the right to interprete this phase as they wish. However, I see indication that this is associated with a hit. I never heard a whack being termed as "do you want him to leave now?"
Frankie got up from the sitdown (without being excused) and ended the meeting himself. Michael should be the one to end the meeting.

Al Neri asked Michael if Frankie to leave. As if does Micheal needs to meet needs to talk to Frankie for any further. [Frankie doesnot determine when meetings ends, Micheal does.] "...let him go back to New York" Michael says, "the old man drank too much wine." To make an excuse for his rudeness. Micheal, actually had no tolorance for the petty bickerings between Frankie and the Rosattos.