Will this rout be compartmentalized or do you think Ohio will be a light red state going into 2016?
No more than Davis winning would make KS a D state, or Rauner/Foley winning would make IL/CT R states.
Are there any situations where midterm elections may set the course for the presidential?
I can see the prestige of the Democratic Party being damaged in a swing state in this situation. The voters may have been able to say "Fitzgerald is an idiot with a detachable penis" or it could give Republicans momentum. I give it a 50/50 chance that this affects 2016.
This race probably just does damage to the already weak Ohio Democratic Party, not the National Parties chances in Ohio.