Q.Do I Need to Allow the Potted Plant Mint to Flower or Should I Nip Off?
Do I need to allow the potted mint plant to flower or should I nip off?

If other mints in the area are blooming at the same time, cut them off. If pollinated, it won't be long to all the mint is one variety...''Heinz 57''. Mint always appreciate a burr cut, it grows back quickly and will be more full.

Well Geena that depends if you have that potted mint plant in the house or
outside. If it is outside & you let it bloom you will get seeds. But who needs
seeds when it so easily propages simply by cuttings.
If you have it indoors for the wonderful smell you might as well enjoy the lovely blossoms.
I don't exactly get your question, in any case the mint will not die, either way its really indestructable.