Essentially, yes, that’s it. What you’re describing is called Green Dragon. What I try to do is QWET - a quick wash in ethanol. You can have the tincture done in one day and then stored. Also by doing a cold, quick wash, it comes out with less chlorophyll. Easy peasy.
I’m not using a ratio, i just fill with high proof grain alcohol to cover the material. I budget for using about 500ml in each run. I did mine in three washes though. Fill to cover, shake, strain, repeat. An ounce of shake should work great. I don’t really measure my plant material because I know I’m going to use it all for tincture.