In the last paragraph, paragraph 25 of "The Leap," the author alludes to a remark made in the exposition by the mother. That is, the daughter/narrator refers to what her mother has told her about her thoughts when she fell from the trapeze at the circus. That is, a person can think about many things as she falls.
This slowing down of time takes place as a person falls through the air. Time seems to drag and many thoughts can be followed. At the end of the story as the narrator falls through the air with her mother, who holds her tightly, the daughter at last understands the significance of the sentence, "As you fall there is time to think." For, she has thought about what her mother has done for her, what it means to fly through the air, and what it means to drop to safety because has saved her.
Then I wrapped my hands around my mother's hands. I felt the brush of her lips and heard the beat of her heart in my ears, loud as thunder, long as the roll of drums.
The young daughter listens to her mother's heart as she and her mother fall through the air. As they descend, the mother surely recalls her fall from years ago when she turned from her falling husband, whom she could not save. Surely, she feels regret that the man died without getting to enjoy the love of a daughter.