No don't do it that way. Look at your regulator gauge to see what your pressure is now. It's probably around 2700 psi. But whatever it is, adjust from there. Probably the max you will be turning this is 1/4 turn before you hit the limit. It may be less than that. I turned mine about 3/16ths based on my calculated adjustment. Measure, do the math, and if you're not sure come back here and ask for clarification. I don't want you to blow out your regulator.
note: Obviously you need more air in your tank than regulator is set to, otherwise the regulator will show a lower pressure. Make sure you've got at least 3000 psi in your tank when reading the regulator gauge.
Then use the regulator gauge (not the main gauge on the bottom of the tank) to degas the gun. I assume you know how to do this, but just unscrew it enough until you start to hear hissing. After a while the hissing will slow down, you can unscrew it just a little more. Keep doing this until all the air is out. Once you're done adjusting the regulator, be sure not to overtighten the regulator gauge when you put it back in. Snug with a wrench is good, don't torque it.
Also when you screw the air tank back on to the regulator, make sure the fill probe hole is aligned exactly with the space in that chrome-looking metal thing on the bottom. That will probably mean backing it out just slightly from being screwed in 100% tight. If you don't do this, you'll have issues inserting and removing your fill probe. Once you fill the gun with air pressure you won't be able to adjust this, so line it up first.