Yes, this is the basic set up. What TM you use will be based on a lot of things, so it's impossible for me to tell you what to do. We have a "new to 5/3/1 program" in the new book coming out that will help you answer some of these questions on what to do. It's way too long, obviously, to write here.
Just make sure your each rep is 100% fast, your aerobic conditioning and training is resulting in very low resting heart rate (we aim for 60 or so, but it kind of depends on a few things) and you have appropriate assistance.
We generally deload or so every 6 weeks - just like in the Beyond book.