If he even lasts long enough to compete in a primary, he'll pick up support almost exclusively form Italian Catholics. I really think he's just a stalking horse for Gingrich or Romney.
I think we're VASTLY overrating European-American ethnic identification in politics here. Maybe for an obscure county row office primary race where the candidates are little known, but for POUSA? Santorum's support in Iowa and South Carolina will concentrate mostly among Protestant evangelicals, very few of whom in those states, FWIW, are of Italian descent. As for NH, his support there may shift to fervently social conservative Catholics as there are relatively fewer fundamentalist Protestants there. In FL it'll be a cross between evangelical Protestants and maybe some hardline Catholic retirees (picture Carl Paladino or Phil in an elderly condo village
).
All relative of course, considering the "support" we're parsing over will likely be in the single digits.