Quantum error correction corrects more than just bit flips. It corrects phase flips, accidental measurement, qubit erasure, small global rotations... lots of st

Quantum error correction corrects more than just bit flips. It corrects phase flips, accidental measurement, qubit erasure, small global rotations... lots of stuff. I don't know exactly what you have in mind as "loss of entanglement"... But quantum error correction will very much preserve entanglement at the logical level against decay of entanglement at the physical level.