Building up a BareKnuckle for the 'drome. Can someone double check my math and make sure I went about this correctly.

I have a Sugino 75 crank which with the Sugino 109mm BB should give me a 42mm chainline. I measure the distance between my rear hub flanges (Paul) and get 65mm. Then the distance from the nondrive side hub flange to middle of cog is 78mm. Therefore my hub w/cog has a chainline of 45.5 = [ 78 - ( 65 / 2) ]

So... if I want to correct the chainline using the Sugino crank and my previously measured hub I need to gain roughly 3 mm per spindle side. So 109mm (Sugino BB) + ( 3 mm x 2) [gain per side x 2 sides] = about 115mm

If this is correct I'll need a 115mm or 116mm BB spindle to correct the chainline, right?

I've gone through this so many times but I wanted to run it by you guys before I plunk down money on a Phil Wood BB or try to find a Shimano that will work.