Yes, as we get older, we tend to get more conservative. However the problem for the GOP is that the Democratic lead among younger voters is so big that even a huge conversion to conservatism isn't going to alleviate the GOP's suffering. Pew Research has a good report on the "Generation Gap and the 2012" election which shows that as little as 12 years ago, younger voters (18-29) were actually more conservative than voters 65+. That has been turned completely on its head in recent years.
That's a combination of the left leaning New Dealers dying off and young people swinging towards Obama. The GOP can accept losing with younger demographics, but losing them so handily is unacceptable.