That will work. Your diagram doesn’t show the FTDI Basic breakout, but it does have the user-selectable option to provide either 3.3V or 5V power for the entire circuit, so you wouldn’t need the regulator and battery.
Hint: dump the Fritzing diagrams. They may look cool but are for beginners, are error-prone and can be very confusing. Schematic diagrams are much easier to read and less prone to errors. With a little practice using any of the freely downloadable programs, I think you will find schematics easier and quicker to produce. I use LTSpice.