This article is dedicated to Eduardo D. Sontag on the occasion of his 70th birthday. We build upon fundamental stability concepts developed by Sontag, such as input-to-state stability and its related properties, to study a relevant application in industrial internet of things, namely, estimation for wireless networked control systems. Particularly, we study emulation-based state estimation for non-linear plants that communicate with a remote observer over a shared wireless network subject to packet losses. To reduce bandwidth usage, a stochastic communication protocol is employed to determine which node should be given access to the network. Each node has a different successful transmission probability. We describe the overall closed-loop system as a stochastic hybrid model, which allows us to capture the behaviour both between and at transmission instants, whilst covering network features such as random transmission instants, packet losses, and stochastic scheduling. We then provide sufficient conditions on the transmission rate that guarantee an input-to-state stability property (in expectation) for the corresponding estimation error system. We illustrate our results in the design of circle criterion observers.