Custom post types and permalinks

I’m not really sure whats going on here – havent done too much with rewrites like this.

But should this:

$newRules['content/(.+)/(.+)/?$'] = 'index.php?content=$matches[2]'; 
$newRules['content/(.+)/?$']      = 'index.php?campus=$matches[1]'; 

Be This?:

$newRules['content/(.+)/(.+)/(.+)/?$'] = 'index.php?content=$matches[3]'; 
$newRules['content/(.+)/(.+)/?$']      = 'index.php?campus=$matches[2]'; 

To Match:

/content/peoria/new-visitor/children/   
/content/peoria/connect/next-generation/children/

?