So, I went out this evening to shoot and on my first pull the rubber tubing on my peep sight broke right where it connects to the peep. I stripped off the little piece that stayed on the peep and reattached the remaining tubing. It was about 1/4 of an inch that broke off. It did not seem to change my point of impact. All summer it has been fine and it breaks two days before opener. Ahhhhh!
So, if I replace the whole tubing, will my sight be off? The remaining piece seems to be ok, but I don't want to have to worry about it Saturday morning...... Or I replace and try to resight tomorrow evening. I hate messing with anything with one day to go.

As long as the peep didn't come out and assuming its served in correctly, you will be just fine. The only reason for the tubing is to gently pull on the peep and rotate it around so you can see through it.

That tubing is just to align the sight with your pins. if not there, when you draw, it might be 90 degrees off and you wouldnt be able to look through it to see your pins. Since the actual peep hole is stationary in/on the string, it doesnt matter. Even if the tube is cut off...as long as you can still see through the hole in the peep sight, you'll be fine.

If it's a good quality string, it shouldn't rotate.
If you're getting a lot of rotation in the string when drawing, either it wasn't set up properly or you may be having some string issues.

The peep sight I use does not have the tubing on it. The old one I had, it broke off like yours did. I still shot it till I could get some new tubing and actually found it at Walmart. I then replaced it with my new peep that does not use the tubing to align it. Now if mine does not look aligned with my D loop I just correct it before I shoot. If you have a D loop you can align your D loop with your peep so that when you put you release and draw, that will align your peep with your eye. Here is good video about installing a peep without tubing and at the end(last 2-3 minutes) is a portion on how to align your peep if is not lining up correctly when you are not using tubing.

Amik, the same exact thing happened to me on Wednesday. My first shot of the day, the rubber tube broke off at the peep. I pulled the remaining broken tube on the peep post off, wet it, and pushed the tube back over the peep post. It shot perfect out to 60 yards. My rubber tube is older, and it's common for that to happen. If it does it again, I'll reattach it in the same way. I did all this in the field when practicing.