Yeah, it should do that. You can read up on how the kubelet and Linux OOM work in k8s here
https://kubernetes.io/docs/tasks/administer-cluster/out-of-r.... Once the OOM kicks in though, I think you're in a pretty bad place.
Scheduling is only really going to work well if you set limits, requests and quotas for containers. Please do this if you're running containers in production. I know it's a pain, as it's non-trivial to figure out how much resource your containers need, but the payoff is you avoid the issues described in the article.