That sounds more like a potential plan for 2016:
a. Obama gets re-elected in 2012
b. Obama runs for VP in 2016, and the Dems win
c. The Supreme Court rules 5-4 that “The 22nd Amendment says that you can’t be elected President more than twice; it says nothing about becoming President through other methods (so Obama can be VP under the 12th Amendment). Since the Amendment seems to go to great pains to use the word ‘elected’, it is not interpreted as ‘you can never be President again after serving two terms.’”
d. Whoever is elected President resigns shortly after taking the Oath of Office - we’re back to President Obama
Of course, this is all fantasy - everybody knows Oprah will be elected President in 2020.