Another great concept here CK!
I just don't like "racial riots"... means too many things to too many different people. America is a melding of many cultures, and some still refuse to "pledge allegiance". However, despite cultural animosity, we're all still "Constitutionally Free". At least Americans, All Americans, are free to openly debate and disagree... May not be pretty but it's "Freedom"! How about something along those lines?  

I wave for the faces of many nations 
And guard their freedom and liberty 
I suffer for an equal Constitution 
Even for those who disagree...

I like it but i don't know how well it fits the rhyme of the other verses.

I'm confused. Is the singer the personification of Old Glory or someone comparing themselves to the flag.

I don't like the line about racial unrest either. Partly because it makes more sense if its the flag talking whereas the rest seems to make more sense if it's someone comparing himself to the flag, but also because it feels weird as the one social issue mentioned.

Ok comparison to the flag. I changed those two lines in the post. Any better?