I don't think so. PP3 batteries have too much internal resistance to sustain 1.2 amps at full voltage. However, four rectifier diodes will reduce the voltage to a nice, safe place, even if you are using a reasonable current flow.
I know both Linear Technology and maxim make higher voltage rated (like 25V) low dropout linear regulators that can do 3A. The part numbers LT1085 and LT1086 pop into my head but my brain is old, so you should go to their sites and use their selector tools and see what they currently offer.
The part numbers were right. The LT1086 seems pretty good, I can't say I really understand the datasheet or exactly how it is going to work, but I know it will work so I am going to buy one and test it. Regards.
I have read the datasheet and the typical application below looks like it would give me the option of using different batteries. For example 4 AAA batteries rather than 2 PP3's. Perhaps I could get it down to 2 AAA's, I'm not sure.
A few minutes a couple of volts over maximum probably wouldn't do any harm, but I'm going to get the LT1086 because it will protect my chip and give me power supply options.
I'll be using the regulator with a chip that has a current limiting pin so I should be able to get a very adjustable and reproduceable power output from a range of different batteries.
It's a bit late, but just to clarify, putting 3 amp diodes in series with the batteries would drop the delivered voltage by .65-.85 volts each. It looks like 3 will do the job.