He doesn't. He hopes to make it out as the VP choice or as a frontrunner in 2016.
He would have even less of a shot in 2016. If whoever the Republicans nominate in 2012 loses to Obama, they are likely to have an incredibly strong, diverse, and Conservative bench come 2016. Are primary voters seriously going to vote for Huntsman when they could vote for Christie, Hoeven, Haley, Snyder, Rubio, or McDonnell?
If whoever the Republicans nominate in 2008 loses to Obama, they are likely to have an incredibly strong, diverse, and Conservative bench come 2012.
