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Solution
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For everybody with screen flickering playing Desperados on a Geforce card, just go to Nvidia Control Panel -> Manage 3D Settings. Then select the tab "Program Settings", choose the Desperados exe file (Game.exe) and disable Vertical Sync.

Done!

Additional Notes
==============

1) If you are experiencing crashes, force the game to use just one core of your CPU by using the imagecfg application ( search google)

2) if you are still having slowdowns, use a software that replaces the OS ddraw.dll for that game. I personally use DXGLX (search google for DXGL-0.5.12-win32) because you can apply nice post processing filters to the game (bilinear scaler, anti-aliasing, anisotropic filtering and so on)
Post edited November 20, 2017 by urunion
All the problems with Desperados, solved with this wrapper

https://steamcommunity.com/app/260730/discussions/0/357286119106379163/