How you should react will depend on what your child has gotten into and how they are currently acting.
First, lets clarify what each option will get you.
Poison Control (U.S.: 1-800-222-1222)
See This URL for information about who you will be talking to (medical experts in toxicology), what information they will ask you, etc. The Poison Control Center is a hotline staffed by specialists and are registered nurses or pharmacists at the least. Based on the information you provide, they will be able to tell you whether or not you need to worry, what symptoms to keep an eye out for, and if necessary, treatment (for example, whether or not to induce vomiting). They may tell you that you need to go to a hospital, or they may tell you that everything's fine and you can take care of it at home (or not even worry about it).
Emergency Services (U.S.: 911)
Emergency Services is not staffed by medical specialists. While they may have some basic knowledge of first aid and such, they will not be as knowledgeable or helpful as calling Poison Control. That said, emergency services will be able to dispatch an ambulance to your location, which may be necessary depending on the circumstances (bear in mind, depending on distance to the hospital, availability of an ambulance, and other factors, waiting on an ambulance may be slower than driving to the hospital yourself).
Now, if you know that they have definitely ingested a poisonous substance and are exhibiting strong symptoms, you may wish to just jump in the car and rush to the ER. During the drive, you can have your partner or someone else call Poison Control for suggestions.
If you are unsure if they have ingested the poisonous substance or are unsure if it's necessarily dangerous, call Poison Control immediately. They are very helpful and will be able to tell you what to do (they may tell you to immediately go to the ER or call 911).
If you know that they have ingested a poisonous substance and are unable to drive to the hospital for any reason, or are not near your vehicle, or there is some other obstacle to prevent you from quickly making your way to the hospital yourself, you may wish to call 911 (again, assuming they're exhibiting strong symptoms or you know what they got into and what the effects are). If possible, you can have one person call 911 while another calls Poison Control to cover your bases.
Disclaimer: I am not a doctor, nor do I work for emergency services. The above is meant to inform to the best of my knowledge, but follow your own judgment in an emergency. When you call 911 or Poison Control, they will be able to help you to figure out what to do. The most important thing to do in any emergency is keep calm - the last thing you want to do is cause even more problems by freaking out and getting in a car crash on your way to the hospital or something.