Not quite, but most top feed systems all have the same idea.
You may want to have air stones in each bucket; it would help to keep nutrients mixed up as well. You may want to use more of a fill & drain technique. Fill the buckets for x amount of time ever few hours or so. Leaving a small amount of water in the bottom of each bucket with air stones to feed them in-between each water cycle. Each water cycle will bring fresh nutrients with it and balance the system.