Hmm. That's part of it, but it doesn't seem to capture the full scope of the philosophy; you seem to be emphasizing its egalitarian aspects more than the aggregation algorithm, and I think the latter's really the core of it. Here's my stab at preference utilitarianism:

An act is good if it helps people do what they want and get what they need. It's bad if it makes people do things they don't want, or if it keeps them from getting what they need. If it gives them something they want but also makes them do something they don't want just as much, it isn't good or bad.

There are no right or wrong things to want, just right or wrong things to do. Also, it doesn't matter who the people are, or even if you know about them. What matters is what happens, not what you wanted to happen.