No, Mitt will get the nod. He's "earned" it by paying his dues and waiting patiently. The GOP is all about getting your due. When he is (reluctantly) nominated, this will piss off the evangelical Christian base of the party so much that many of them will abandon Mitt in favor of a third-party "Christian" candidate. (Probably Huckabee or Rick Santorum on some wacky "'MERICA!!!" party pulled out of the ass of the religious right.)
This will serve several purposes. It will split the GOP vote and hand Obama a second term, which was probably going to happen anyway, so it's no real loss to the party. It will effectively end Mitt Romney's political career, which will sit very well with the GOP base. They never wanted him in the national scene anyway. The GOP to blame Romney, personally, for the loss, rather than themselves. Whoever that third party spoiler turns out to be will be welcomed back into the party with the intention of using the influence they garnered in the 2012 campaign to lend strength as the running mate for the REAL GOP presidential hopeful (probably Chris Christie, but maybe Jeb Bush) in 2016.