Do you use %buildroot macro in your ~/.rpmmacros or wherever else to override the default %{_tmppath}/glibc-2.3.4-root ? If so, you need to make sure that the string length of your buildroot is shorter or equal to /usr/src/debug. This is not specific to glibc, almost all other packages need that too. You can grep the rpmbuild -ba build log for install_root= if you are unsure.
Strange, I've never come across a problem with that, and I generally use the much-longer version recommended at:
http://www.fedora.us/wiki/PackagingHints
i.e.: %{_tmppath}/%{name}-%{version}-%{release}-root-%(%{__id_u} -n)
Paul.