The use of a chalice has direct parrallels with Christianity, as the only other use of cups in ritual forms comes from the Greek Papyri where they were used as part of love, passion, or death spells. The only other magical use is associated with skrying. Therefore, the use for drinking wine as part of a religious ceremony has very few connections that are worth mentioning, outside that of Christianity.
The chalice in Wicca is used as part of a ritual called "cakes and wine", which is a feast that takes place toward the end of a ceremony, in order to assist with grounding, after energy has been raised.
During initiation, it is the one ritual object which is often not included among the 8 which will be presented to the new initiate.