Do I have this right?

[campbellmom549]

I'm knitting the Baby Sweet Pea booties. I'm ready to bind off the first one and I want to make sure I have this right. The pattern reads:

Step 10: BO all sts in the following pattern: K2, *slip 2 sts back onto left needle, k2tog tbl, k1.* Repeat between ** for the rest of the rnd. Weave in loose ends.

So, if I'm reading this right, I knit two sts and knit them together, then knit one, then slip the k2tog over the k1. Then I do the k2, slip, k2tog again and slip the k1 over it and rinse repeat?

Also, when I'm done, how do I block these? They're a little shapeless and the sts in the sock part are a little uneven from being knit Magic loop. Thanks in advance all!