一千两百万 is a number meaning '12 million' (1,200,000). In Chinese, numbers are grouped by ten-thousands (万), so 12 million is expressed as 一千两百万 (literally 'one thousand two hundred ten-thousands'). Note the use of 两 instead of 二 before 百 and 万 — this is the standard pattern for numbers in the hundreds and above. This word is a numeral (数词), not a measure word, despite the POS label.