Yes, my neighbors have an old horse that has this and had to have surgery on it or they would lose him entirely. He did not show that he had the problem until teen years. The surgery cannot fix it, but can help with prolonging life in serious cases.
There IS a spiral deformity of the trachea, which particularly affects Minis and ponies. The coughing is a result of problems in that area, the damage does not come from the coughing. It is sometimes called 'Scabbard Trachea' I believe and is a congenital problem. With a scope, they can see the flattened area in there. It is a malformation they are born with- and the breathing problems get worse with age, excercise, etc.... It is not pretty to watch when they are in distress.