Yes, it'll work just as you describe for the three bikes. I'm doing that right now with mine. You'll establish a profile for each of your respective bikes, and it'll include information such as the use of a cadence meter and so on. It won't search for them if you're set to use a different bike. Just be sure and make the switch in the computer before you begin your ride. I lost a lot of data for one ride because I'd failed to realize my computer was set to a different bike profile without cadence.