Yes... He should be stripped, because the UFC should voluntarily suspend him for a period of 1 year (because apparently the athletic commission is entirely too stupid to see that cocaine usage during a training camp should qualify as PED usage, and then do it themselves).
I'm entirely positive that the UFC has a "morality clause" in their contracts and has the power to do this.
The UFC should then lobby to have NSAC add cocaine to it's list of banned substances out of competition.... because the fact that it's not already on the list is a joke. I'd also add it should lobby to have marijuana -removed- from those out of competition lists, particularly in states where it is now legal, as well as in competition testing to actually make account of the fact that marijuana metabolites can linger in your system faaaaaaaaaar longer (1month blood, 6months hair), and that the mere presence of metabolites, DOES NOT INDICATE ACTUAL IMPAIRMENT at the time of the test.... Whereas cocaine, lasts a much much shorter time in the system (3 days), and DOES indicate impairment.
That all being said, his advantage was gained in -training- not on fight time, so I don't see any reason to change the Jones/Cormier fight result to a NC.... It would stay as a Jones win, and a successful defense.