You already learned that 逃げる means "to escape," and this verb is when you let something escape, or slip through your fingers. So this means to miss or to lose a good chance, or to let go of a good opportunity.

Here's a mnemonic to remember the kun'yomi for this word:

You missed a huge opportunity. Why? Because there was no gas (のが) in your car! Think about what opportunity you missed out on because you forgot to fill up your car.