Well almost crash

I was cruisin at about 70-80 my speedo is off due to new sprockets. Anyways so all of a sudden I hear this pop and the bike starts to wobble and jerk around. I slow down pretty quick to figure out what it was and low and behold I find this in my back tire. I've been riding for a little over a year now and this is the first time this has happend. I feel lucky even though im out ~$200 it could have been worse. What are yalls thoughts on plugs? I used a standard plug on the outside long enough to last until early next week until I can buy a new one.