Your understanding seems correct. Keep in mind you can only level match the subwoofers for a single position in room. The ideal is to have the levels match at the same gain level on the subs if possible, but that would be getting very lucky.
Regarding a master volume level for level matching subs, it doesn't really make much of a difference, so long as both subs are loud enough to overwhelm any exterior noises. I am sure 85 or 90 dB would be sufficient.
The idea is to get the single best frequency response from both subs while not working one a lot harder than the other. So the subs should be placed and adjusted in a way where their respective responses sum up to a overall smoother response. The gain dials on the subs themselves should be low enough so that the subs can easily be triggered by input signal voltage when the auto-on setting is used.