Donavo, there is a known issue with Bluetooth on Android 4.2.
Actually three issues that people are having. First are connection issues, second is audio drops and the third is the audio quality {the crackling that you are hearing).
The issue apparently is caused by a rewrite of the Bluetooth stack by Google for v4.2.
Both my Galaxy Nexus and Nexus 7 have the cracking issues after upgrading to 4.2. It's less noticeable on low quality source material like podcasts but very noticeable on high quality material.
No connection, drop issues with the GNex but I have drop issues on the N7.
You'll have to use the headphone jack until a fix is released. If there's a custom rom that's not using the new Bluetooth stack then that would fix the issue as well.
Here's the bug report if you want to track it.
http://code.google.com/p/android/issues/detail?id=39632
EDIT: It may not have been a rewrite but they may be using a new stack from Broadcom.
http://www.broadcom.com/press/release.php?id=s721534
Sent from my Nexus 7 using xda premium