You can override the runtimeDPI method to return one on the DPIClassification constants which represents a range of dpis (eg DPI_160, DPI_240 or DPI_360). It is usually used to correct devices that report the wrong runtime dpi.
Flex does support higher than 320 dpi. It just puts the application into the 320 dpi bucket when using Apache Flex 4.9 and lower. Apache Flex 4.10 added support for a 480 dpi bucket and Apache Flex 4.11 will add support for both a 120 and 640 dpi bucket. Each dpi bucket is optimised for a dpi range but on application will not stop working if it has a different or higher dpi.