The statement is false. For example, if $p = 5$ then $\frac{p+1}{2} = 3$ and $(-1)^3 = -1$, however $1^2 \times 2^2 \times 3^2 = 36$, and it is not true that $36 \equiv -1 \mod 5$.
For the true statement, consider the group of natural numbers less than or equal to $p$ modulo $p$ by multiplication i.e. $\{1,2,...,p-1\}$ under multiplication modulo $p$.
If we take the product of all the elements, then we see that every element is paired with its inverse except $1$ and $p-1$ (not very difficult to prove), whose product is $-1$ modulo $p$, giving Wilson's theorem.
However, if we exclude $p-1$, then every element is paired with its inverse, except the identity $1$ which does not contribute. Consequently, we get $(p-2)! \equiv 1 \mod p$ and so $((p-2)!)^2 \equiv 1 \mod p$.
For example, take $p=13$,then $11!$ leaves a remainder of $1$, therefore so does its square.
The right statement is that $(p-2)! \equiv 1 \mod p$ always, for $p$ a prime. Note that $0! = 1$ so this applies for $2$ as well.