Leaders Arsenal travel to second-placed Manchester City in a monumental meeting on Sunday in a clash that could help decide who is crowned Premier League champion.
A win for Arsenal would restore their nine-point lead but anything other than 3 points would seriously damage their title hopes, especially after losing to Bournemouth last weekend.
Speaking to Andy's Bet Club, Petit admitted that the club could call apart mentally if they do not go all the way.
"If they don't win the title from here, Arsenal players will be traumatised forever.
"I don't really like the temperament of Mikel Arteta on the bench sometimes. His body language, I don’t like it. It's the same thing I've seen with Unai Emery sometimes. He looks nervous, very tense.
"So, I can understand the way you react. You are very passionate, you have this desire to win something, but the fact is that Arteta has never won something important.
"If they don't win a trophy, if they fail again after this, it will be probably the third or fourth season in a row that they have been fighting for the title and then failed.
"If that happens and I'm a player, William Saliba or Gabriel for example, if Real Madrid come knocking, it might be time to think about it."
Arsenal’s five remaining games are against teams in the bottom half of the table and they must stay consistent if they are to lift the title this season, a prospect that is becoming ever more unlikely as they continue to drop points.