Question : Can we Upgrade from AX 3.0 to AX 2012 ?
Answer: AX 3 to AX 2012 upgrade is not supported directly. you have to first upgrade Dynamics ax 3.0 to Dynamics ax 2009, then From Dynamics ax 2009 you can upgrade to Dynamics ax 2012. Below links helps you upgrading the system.
Data Upgrade and Code Upgrade from Microsoft Business Solutions – Axapta 3.0 to Microsoft Dynamics AX 2009
Upgrade Guide for Microsoft Dynamics AX 2012
Code Upgrade White Papers for Microsoft Dynamics AX 2012

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