No, I don't think.
Reagan was an outsider. He challenged the sitting Republican President in 1976. In 1980 he was challenged by George HW Bush, the establishment choice...and still won. He was never considered "next in line."
Even Rep. John B. Anderson (R-IL) ran in 1980 to try and block Reagan from winning.
I think he meant Reagan was second at The GOP convention in 1976 and then won in 1980. but he got confused on Dole. He won in 1996 not 92.
Fund gets confused. Santorum won Iowa in 2012 not 2008. Mike Huckabee won Iowa in 2008.