The certificated flight instructor and the student pilot/owner of the tailwheel-equipped airplane were conducting touch and go landings. During the landing roll, the airplane began to veer to the left, and the student pilot reported that he applied the right brake. He said he then applied excessive braking action on both brakes, and the airplane nosed over. The airplane received damage to the propeller, wingtips, vertical stabilizer, and rudder. The student pilot had accrued about 17 total flight hours.