Would rubbing alcohol applied to penis glans and foreskin cause irritation, redness, raw painful skin, small bumps, pain in testicles, numbness on penis head and skin peeling?

Yes, it can, as alcohol is irritant and will cause local chemical inflammation, pain and swelling. There must be a reason for why you decided to rub alcohol on your genitals (a potential infection/rash?) and that by itself can cause above symptoms as well. Or in other words a different cause contributing to your symptoms cannot be ruled out, best to have your doc examine and make recommendations.

yes. NEVER use any product with alcohol in this area. Use some cortisone cream to the area for a few days