Dave,
Yes, that is correct. You tighten the clamp around the wire sheath just enough to create more friction between the inside wire and the sheath. It might take a few 1/8th turns to get it just right. I had that setup on my C36 for probably 12-14 of the 18 years I owned it, and there were no problems. I think it was actually Will Keene, owner of Edson, who suggested that fix for the slipping throttle. Also, no need to spend the extra $$ for SS clamps. Any hardware store variety will do. There's really no exposure to salt water in that spot on the engine.