I think Europe handed over world dominance to America because it started two world wars!

I think this was a matter of time, but the world wars accelerated the ascent of the US a lot.

Do you think the war between Russia and Ukraine will lead to World War III?

Naming this war "world war III" may be a bit far-stretched, but I think rather yes, we already are in a global war between the Allies (US, Canada, most of Europe including Ukraine, Israel, Japan, Australia, ...) and the axis (China, Russia, Iran, Hezbollah, Hamas, Houthis, Castro, Maduro).
And by naming the 2 parties Allies vs. Axis, I also imply who will win this war. Due to democracy, the western Alliance is very messy and some governments have lost their moral compass, but in time they will get their shit together and win this war. Until now Ukraine and Israel bear the brunt of the wars, and the western support is far too little, but I am hopeful that will change.