Yes, I'm familiar with the US flag code. However, things are not so simple. Admittedly, there is a huge and complicated gray area here, but after a long series of Supreme Court rulings on the issue, beginning in 1909 and continuing through 1989, one thing is very clear: using the flag in any way in the course of political speech is protected and not illegal.

I would also remark that the US flag code has not been enforced against private citizens for a very long time.