The Collaborative International Dictionary of English v.0.48:

flag-waving \flag-waving\ adj.
   fanatically patriotic; same as chauvinistic. [prenominal]

   Syn: chauvinistic, jingoistic, nationalistic, superpatriotic.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

flag-waving
    adj 1: fanatically patriotic [syn: chauvinistic, flag-
           waving(a), jingoistic, nationalistic,
           ultranationalistic, superpatriotic]