No, there are two totally independent layers of encryption involved. The first is end-to-end. Each FIPS node when talking to any other FIPS node negotiates and end-to-end authenticated encryption session between them that only each other can read. The second is hop by hop between peers. Each connected peer has a separate encryption session, and passes along the opaque blobs of data from the above unchanged. So no FIPS node can read any traffic passing through it.