Thanks. That worked. For the archives...
I used pdm_extract to generate a file with an existing multiline field and looked at that output. PDM_Extract will generate the file with the \\0012 already there, answering my original question.
I have the source for my pdm_load file temporarily stored in a SQL Server repository for data manipulation before generation (so I'm not using PDM_Extract here). I ran the following against that column before generating the load file and it loaded. Note, I am completely removing the LF before replacing the CR with \\0012 since the LF and CR are technically two separate characters.
UPDATE [dbo].[MigrationTable]
Set DETAIL_TEXT = Replace(DETAIL_TEXT,Char(10),'')
UPDATE [dbo].[MigrationTable]
Set DETAIL_TEXT = Replace(DETAIL_TEXT,Char(13),'\\0012')
If anyone wants to make me chuckle, point me to the KB explaining that \\0012 thing, because I looked before asking.