iTunes 12 Turn off Repeat Song and Repeat Playlist Separately
In earlier versions of iTunes, "repeat" and "shuffle" were associated with playlists.  With iTunes 12 they are global flags and seem to be toggled by menu clicks; there's no direct property to manipulate.

You can control repeat from Applescript thus:

tell application "System Events"
  tell application process "iTunes"
    tell menu 1 of menu item "Repeat" of menu "Controls" of menu bar 1
      click
      click menu item "All"
    end tell
  end tell
end tell


Options are "All", "One" or "Off"

You can do similar for "Shuffle" with allowed options of "On" or "Off"

tell application "System Events"
  tell application process "iTunes"
    tell menu 1 of menu item "Shuffle" of menu "Controls" of menu bar 1
      click
      click menu item "On"
    end tell
  end tell
end tell


This makes it scriptable to control the status of shuffle and repeat, and you could bind these scripts to keyboard shortcuts.