I am looking at a job at a residence where they have any existing 1200a 240v 1ph service and want a generator.  The Main disc. is outside and has a 1200a breaker, which feeds a MDP inside the house.  Would it be code compliant to split the parallels between (2) 600a ATS's? or (3) 400a ATS's?  Any info on this would be great thanks.
		
		
	 
 
First, a disclaimer:  I don't do residential (well, except mine, and my brothers and dads, and my good buddy ....)
Everything about this looks wrong:
1200A single phase service - Is this maybe 20k sqft, $10M house?  With the limited information we have, this is a small industrial grade project. 
If I am understanding you correctly, you want to take a 1200A parallel feeder, split it between two 600A switches, the recombine back to a 1200A feeder to the MDP.  First, it is poor design.  And the code doesn't address poor design - just illegal design.  At this level I wouldn't worry much about illegal design.  I'd be a lot more worried about dodging poor design.  Be brave.  You are going to be the DIY engineer of record on this.  
As kwired said, no.  If you need a code reference, look at 310.10.H.1
I don't see anyone with a $10M house wanting anything marginal.   I'd be looking at a 1200A, 3 pole, switch.  Use one pole for a switched neutral.  Install between the outside Main and the inside MDP.  Conductors are likely quad 350kcmil CU.  Generator will be a 400KW, 208V, 3ph, 12 lead generator, reconnected to 120/240, 1ph, grounded and connected as an SDS.  Should rerate to 300KW.
Should hunt down the architect/engineer and break their pencil/sliderule for allowing the utility to override.  1200A single phase is near disgusting.
JMO
ice