Does political correctness have a tendency to become thought policing?

As a humanist, I feel inclined to criticize bigoted attitudes. However I still feel inclined to respect freedom of speech. In that, I may not agree with certain opinions, but I respect the right of the individual to hold such opinions.

We live in a society that can on occasion be somewhat hyper sensitive on many issues. With that in mind, in your opinion, does political correctness have the potential to become thought policing? Or do yo think thought policing occurs at all?