Going in one end and out the other is how container gardening works. No reason why you can't reuse the liquid that comes out that you catch. Be aware, however, that because of evaporation, the liquid fertilizer and soluble salts in the water are going to get more and more concentrated as it is recycled.

Slowing your rate of application is also important. That is one reason why drip irrigation works so much better. Size of container also plays a role - the bigger the better - and many use containers that are far too small for the system to work well.

The folks on the Container Gardening forum here can cover this in much more detail if needed.

Dave