I though total Protestants made up more than 50% of the electorate.
Link:
http://www.pewforum.org/2012/11/07/how-the-faithful-voted-2012-preliminary-exit-poll-analysis/
Where did the 29% figure come from? Was it just evangelicals?
Likely you are looking at the category "Protestant/Other Christian" which made up 53% of the voters in 2012.
Take out the "Other Christian" and you have Protestants making up 29% of the 2012 voters.