More or less, yeah. Minor details difer - I dont make one loop over the top of the peg, I guess the point at which to make the kink with the string pulled fully through the peg, but none of that will make any difference.
The sole real benefit of a locking tuner is that you just pull the string through and lock it down; very little winding.
The worst that you can expect (and this applies to locking and non locking tuners) is that the worm and wheel of the tuner mechanism arent engaging properly and the string can go a little flat. This has nothing to do with winding technique and can be solved with always tuning up to pitch, not down. The worst extreme is that the tuner slips, but they have to be very worn for that to happen.
You shouldnt overlap winds, as it throws off the angle of travel and the wind can move under the tension from the overlaping winds.
The most common cause of tuning problems is the nut. If your nut is gripping the string a little then when you bend, the string gets pulled through the nut and when you release it doesnt fully return to position.
Lubricate the nut (with a pencil) and if that doesnt work *very carefully* widen the slots. You cant put material back on it.