The scheduled refresh history will be recorded in Power BI Report Server database hosted on SQL Server. Maybe you could configure an alert in SQL Server when the state of scheduled refresh is recorded as "Failure" which will send an email to specific recipients.
Scheduled refreshing is done at the dataset level for the Power BI Service. Reports will use the latest data that is in the dataset it connects to.
There's limited email notification settings for a refresh failure, but you can tick the 'Send refresh failure notification email to me'. I can confirm this works (example below) . I'm not sure if this sends an email to all owners of the workspace or not, someone else may be able to confirm that.