You think the Libertarians will nominate him again?
Short answer: No.
Longer answer:
The LP had never re-nominated a candidate until the 2000 nomination of 1996 nominee, Harry Browne. It seemed like a worthwhile experiment - could he build on the exposure and experience of having run before? True that it was only one trial, but it failed. So definite tendancy to go back to the old one-nomination-per-person thing.
But..... Let's hypothetically say that Badnarik manages to finish with some momentum; say starts October around 1-2% nationally in polls, final polls suggest 4%, and actual turns out 5.5%. Not the most likely scenario, but it's a hypothetical. If that kind of thing happened, I suspect the 2008 nomination would be his if he wanted it.
But go back and read the short answer.