Step 1: Understanding each statement.
- Option 1: Cannabinoids primarily affect the central nervous system but can also influence the cardiovascular system.
- Option 2: Heroin is derived from the latex of Papaver somniferum (opium poppy).
- Option 3: Nicotine is a stimulant, not a sedative or pain killer.
- Option 4: Excessive dosage of coca alkaloid (cocaine) can indeed lead to hallucinations.
Conclusion:
Thus, the incorrect statement is option 3, as nicotine is a stimulant, not a sedative.
Final Answer:
\[
\boxed{\text{The correct answer is (3) Nicotine is a very effective sedative and pain killer.}}
\]