Stacking plus run

[Clipper]

It is not correct, assuming you mean the Flying Carpet (I can't find another card with carpet in the name) as it is a Steed.

If a Steed has a Run Away modifier (bonus or penalty), then it replaces your character's one, so that setup leaves him with only a +1 to Run Away. In the case that he does have to Run Away, he can choose to discard the Steed first as it is currently penalising him (he has a +3 to Run Away without the Steed).

If he did have a legal +4 Run Away modifier, you can perhaps ignore the roll as long as everybody agrees it's not necessary. That way, if somebody does happen to have a card combination that would screw him up, then they can use it.