[Alex Vidanhof]

If you need something like this

then, I guess, you need to use pattern brush with some further manual adjustments. I attach an .ai file which I hope is self-explanatory.
1424_dottedfilms.ai.zip

[Alex Vidanhof]

Type > Create Outlines
Pathfinder > Unite
Ungroup
Make Compound Path
Intersect

Slightly complicated, but it makes the result most predictable.

[Alex Vidanhof]

Yes, exactly. First convert the text to outlines, then ungroup it and convert to compound path.
There’s one possible problem with this solution: with some fonts holes may appear at the areas where letters intersect. To avoid these holes, it would be a good idea to apply Pathfinder Unite to the letters before ungrouping.

[Alex Vidanhof]

The intersect filter tries to intersect all the selected shapes. A text converted to outlines is not a single shape, but rather a group of distinct shapes which really do not overlap. To make an outlined text suitable for intersection, you may ungroup it and convert it to a compound path (Cmd-8).