You could make an argument that 1980 was a worse defeat because it came after just ONE term for the Democrats. 1932 happened when Republicans were seeking a FOURTH term.
Naw, that doesn't matter. The 6 biggest incumbent defeats are
1. 1932
2. 1912
3. 1828
4. 1980
5. 1992
6. 1840
1800, 1888, 1892, and 1976 were all pretty close.
Well yeah if we're going strictly by the numbers, then 1932 obviously wins. I'm just providing some context...only once since 1896 has a party lost the White House after just one term, and they did so by a wide margin.