We present an adaptive unequal error protection (UEP) strategy built on the 1-D interleaved parity Application Layer Forward Error Correction (AL-FEC) code for protecting the transmission of stereoscopic 3D video content encoded with Multiview Video Coding (MVC) through IP-based networks. Our scheme targets the minimization of quality degradation produced by packet losses during video transmission in time-sensitive application scenarios. To that end, based on a novel packet-level distortion model, it selects in real time the most suitable packets within each Group of Pictures (GOP) to be protected and the most convenient FEC technique parameters, i.e., the size of the FEC generator matrix. In order to make these decisions, it considers the relevance of the packet, the behavior of the channel, and the available bitrate for protection purposes. Simulation results validate both the distortion model introduced to estimate the importance of packets and the optimization of the FEC technique parameter values.