This is exactly how I dry hop all the time. I usually leave mine like that for one to two weeks, most of the hops will have fallen to the bottom in that time.
My suggestion to you is to purchase a 5 gallon paint strainer mesh bag, sanitize it along with your racking cane and put it over your racking cane prior to racking from the Carboy to your bottling bucket or keg. This will strain the hops, keeping them from clogging up your cane. works really well for me.