The test doesn't HAVE to compensate for your supposed factors because it COMPARES the carbon date with an independantly determined date (counting tree rings, ice core layers or varves).
And we find that there is no sign of any factor that would have a major effect. So not only does the tests NOT have to compensate for it, they SHOW that the only compensations needed are minor and can be accounted for by the normal variations in C14 production.
What is more there is no good reason to believe that a flood would cause significant variations, nor that there ever was a "vapour canopy" at any time relevant to carbon dating.