Increased Penalties for Methamphetamine Traffickers Act - Amends the Controlled Substances Act to reduce the dollar amount received in gross receipts by an enterprise in which a defendant was a principal administrator, organizer, or leader during any 12-month period of its existence for the manufacture, importation, or distribution of, and to reduce the threshold amount of, methamphetamine necessary to qualify for life imprisonment for engaging in a continuing criminal enterprise involving methamphetamine.