Hi Doug,
Yes, you can upgrade directly. Here is the answer found in the Release Notes:
"Service pack 2 is a cumulative update that also includes the updates that
were found in service pack 1. You can apply Cisco Security Manager 3.2.2
Service Pack 2 to a Cisco Security Manager 3.2.2 installation whether
that installation has service pack 1 installed or not."
Hope this helps.
Best,
Paul