That's the thing, If Tea Party supporters take control of one of the existing parties then they don't suffer the 3rd Party curse.
Republicans have supposedly been the closest to our way of thinking ,so we retake control of the party first in the primary, then We retake our nation in the Elections.
and buy guns and ammo.
and rope 
As a Libertarian, I'd say it sounds like a Plan.
I am a Libertarian because neither the Democrats or Republicans practiced the adherence to the political principles held by our Founding Fathers and codified in the Constitution. I used to say I was a liberal philosophically and a conservative politically and the Libertarian Party fit me pretty well.
Until Obama and cohorts began their move for power, I would have said there is little difference between the Republicans and Democrats. I did not vote Libertarian this past presidential election because I thought the gap had grown extremely wide and voted Republican.
A 'remake' of the Republican party into a more Libertarian (read constitutional) focus seems very possible, while salvaging the Democratic party seems akin to rehabilitating Charles Manson or Jeffery Dahmer...better to put them down like rabid dogs then trust them out of the cage.