If it comes down to a choice between Obama and Romney, I suggest that instead of sitting out the election, Tea Partiers
go to the polls and vote for TP-blessed congressional candidates, then vote for either the Libertarian or Prohibitionist presidential candidate (depending on whether the Tea Partier is a libertarian or social conservative).
That would send a pretty unmistakable message to both major parties without doing as much damage to the country as ceding the entire election to the Dems.