On the plus side drinking alcohol or doing loads of chems gives you effects and they for however long the effects of the drink last then slowly fade to nornal.
Taking too much chems makes you hallucinate and generally see wierd stuff. You could see a death claw run at you then disappear as it gets near you. Taking too much drink or chems will make you pass out (An actual animation will be needed) and you wake up 6 hours later
If hostilea are in the area as you pass out you will die.
Being hungover makes you thirty and so will require water.
On the plus side though, you get to have a party at your settlements. Laugh in prestons face as e is telling you a new settlement needs your help, while your eye balls are spinning, your jaw is swinging and you are hallucinating a swarm of mirelurks or witnessing feral ghouls staring at you.