Yes stomach problems and Ulcers can result from eating too many hot peppers and other spicy foods.
The spicy foods and hot peppers being so hot will eventually eat at your stomach lining causing other stomach problems besides the ulcers.
Hot peppers are good to eat in moderation but you should not overeat when it comes to eating hot peppers or spicy foods.
I love hot peppers myself but my brother used to eat a lot of hot peppers and spicy foods and eventually did get ulcers so I cut back on the amount of hot peppers and other spicy foods I eat.