yup pretty much what you said. remove the t stat, put the housing and hose back on, take the upper hose off the rad, push it down to a pail or let it dump. pull the lower hose off the water pump or rad, let that drain out. put that hose back on, put a hose in the rad turn it on, fire up the car run the engine till clear water comes out.
while the hoses are off the rad, you can hold the lower hose closed, then fill the rad, then let it dump out as fast as it will flow out, do this a few times see if it flows out faster or not with each flush.
then take the hose out, run the car till no more water comes out the upper hose, then turn the car off. put the t stat back in, put the upper hose back on. then add one gallon of straight coolant to the rad, not the 50/50 stuff. then top it off with the hose, let it idle till the fans come on, (rad cap off) then bleed the bleeder. top off as needed while waiting for the fans to come on. top off before shutting the cap.
waiting for the fans to come on tells you the t stat is open as the car is hotter then 195. if it burps and sucks coolant while waiting for the fans, the t stat just opened for a few seconds till cold coolant hit it from the rad. this waiting game can take up to 15 minutes sometimes. or longer.