Answer
Yes. A tarantula can become excessively plump when it is fed more energy than it needs. A very swollen abdomen increases injury risk, especially in heavy terrestrial species.
Use body condition
Look at the abdomen in relation to the rest of the spider and its recent feeding/moult history. If the abdomen is already very full, lengthen the gap before the next meal.
Feeding response is not a requirement
Many tarantulas will strike prey even when well fed. Appetite alone is not a reason to keep adding feeders.
Slings and fast growers
Young fast-growing spiders usually eat more often than slow adult females. Even then, keep the abdomen proportionate and stop live feeding when premoult approaches.
If the spider is very plump
Reduce feeding frequency, keep water available and remove fall hazards. Do not try to make it lose weight quickly through heat or dehydration.