Is it possible to submit a paper to a scholarly, peer-reviewed journal without PhD and get it accepted?
Submitting an academic paper for publication (and potentially getting it accepted) does not require any qualifications whatsoever.  You don't need a PhD; you don't even need to have gone to college.  There are no educational, employment, or membership requirements at all.

That's not to say it's easy to get a paper accepted with no formal training in the field.  Learning how to write a compelling paper is much easier if you have a mentor to offer guidance.  However, if you can figure out how to do it without a PhD, then your lack of a PhD will not be held against you.