I acquired a MIDI file from a 3rd party for Hank Williams Jr.'s "Born to Boogie".  The sequence itself is perfectly done, but the tempo is all wrong.
 
Whoever created the song, made it 112bpm, but it plays like the actual 184bpm that it is.  The measures are of course all out of alignment as well.
 
Is there a way to fix this or am I stuck with it?

Not quite sure I understand your problem but if it is a midi file you can set the tempo of the project to 184bpm. Everything should then line up.

Yeah it's not an easy one to explain, lol.
 
Basically, the song plays the right speed, but tempo shows as 112.  If I set the tempo to 184, it plays crazy fast.

Okay couple of threads for you to check out http://forum.cakewalk.com...aspx?m=3118005&p=1 and http://forum.cakewalk.com...aspx?m=1955832&p=1

You should be able to start a new session, set the tempo to 184 then import your MIDI.  It should play back at the project tempo.