I do know of a couple of college stations that have been shut down by staff for partying too hard...in the case of my alma mater, they had built a brand-new class D FM around 1980. About a year and a half later they caught 5 kids smoking grass in the on-air studio, drinking tons of beers, talking all about it, and assuming since it was 2am in a 5,000 person town on a class D FM, nobody was listening. Wrong! The only cop on duty in town hauled everybody in the studio to jail for possession (cop didn't care about the alcohol...drinking age for beer was 19 at the time), staff shut it down, FCC realized they were not broadcasting for months on end, and deleted the license.
The good news is this worked out well for the college: two years later they reapplied for a class A picking it up, and the old D frequency became a much-needed NPR translator a few years after that.
In my time on the air, I did get a few "drinks for play" from the restaurant next door, hell I'll even admit it, my "medical condition" might act up one slow, requestless night, and maybe a left-handed ciggie was rolled. But I really think most jocks saved the heavy drink/drug use until off the air. If you're like me, if you're drunk/high, you usually sound drunk/high
Now cigarettes are a different story. Before the smoking ban came into effect here, there was not an on-air studio I could get to in 100 miles that was smoke-free!
Radio-X