My alternative interpretation of 1 Cor 12 may be summarized as follows:
Paul's point is not that the church is the body of Christ but that "you (ὑμεῖς, plural "you") are the Christic body." The key is the ethical union with Christ, not merely existential or mysterious relationships with him. That is, the Corinthians must follow Christ and honor one another. Then, they can maintain a Christ-like community. Christ is not the owner of the church, but its foundation. The point is not mere membership to the church but impregnable participation in Christ and his faith. --From my talk on "Deconstruction and the body of Christ"
Also see my books: Christ's Body in Corinth and How to Read Paul.