The Whigs nominated President Mitchel after the C.S. Supreme Court said that he was allowed to run; he was Wade Hampton V's running mate in 1921, but since he didn't run for president himself he could do so in 1927. The Freedom Party nominated its leader, Featherston, and Ferdinand Koenig as his running mate, as they did in 1921.
Featherston was using radio as his form of mass-communication, so his message was already known to the Confederate public by fall 1927. The FP platform remained the same as it was in 1921 - rearmament, restoration of C.S. prestige, and readmission of the former-Confederate territories made part of the United States as part of the peace deal after the Great War. The Whigs, running Mitchel, ran on the platform that government had no place in the economy (thus excusing itself from dealing with the aftermath of the Great Flood), and on peace and prosperity.
Mitchel was easily elected. Featherston had won Mississippi, Tennessee, and Texas; the Radical Liberals won Arkansas and Chihuahua; everywhere else went for Mitchel. However, the Freedom Party did somewhat better than it had in the midterm elections of 1923 and 1925 - it sent two new representatives to Richmond even while losing one senator. Many Confederates believed, however, that the Freedom Party would be unable to ever elect a president.