Yeah MAKERbuino's hardware is far too weak for emulating such system.
Fun fact: people say that for good emulation you'll usually need 10 times more RAM compared to the system you'll going to emulate.
Yep, a Raspberry Pi or a CHIP could emulate that but for MAKERbuino we'll have to stick with games written especially for the MAKERbuino.
Although, a guy over at the Gamebuino forum tried to make a CHIP-8 emulator:
P.S. If you haven't noticed, MAKERbuino is Gamebuino compatible and was in fact developed in collaboration with the creator of Gamebuino - Aurelien Rodot