A 360 shift mechanism can only turn the shift drum enough for one gear. Out of adjustment, it may do a half-shift, but the mechanism cannot be turned by the pawl more than one gear.
Having said that, there is a star wheel and roller to keep the drum in the proper location. If the star or wheel is worn or broken, the drum could turn more than it is supposed to.
Those parts are behind the clutch on the right side. Worth an inspection.