Flag Protection Act of 2012 - Replaces provisions regarding desecration of the flag of the United States with provisions that subject any person who: (1) destroys or damages a U.S. flag with the primary purpose and intent to incite or produce imminent violence or a breach of the peace to a fine of up to $100,000, imprisonment for up to 1 year, or both; (2) intentionally threatens or intimidates any person or group of persons by burning a U.S. flag to a fine of up to $100,000, imprisonment for up to 1 year, or both; (3) steals or knowingly converts to his or her use, or the use of another, a U.S. flag belonging to the United States and intentionally destroys or damages that flag to a fine of up to $250,000, imprisonment for up to 2 years, or both; and (4) steals or knowingly converts to his or her use, or the use of another, a U.S. flag belonging to the United States and intentionally destroys or damags that flag within any lands reserved for the use of, or under the exclusive or concurrent jurisdiction of, the United States to a fine of up to $250,000, imprisonment for up to 2 years, or both.