I'm interested in sending a stereo drum track from my DAW (Cubase) to (2) API 512c mic pres and then a 2-1176 compressor, and finally back to my DAW in order to warm up the sound. What's the easiest/most logical way to accomplish this correctly?

Set Output of Drum Bus to Analog Outputs 3 & 4 on UFX
Connect Out Analog 3 & 4 --> API 512c L&R --> 1176 L&R --> Input 3 & 4   
Set input on a new stereo track to 3 & 4
Arm & record that track in real time to Cubase

Does this make sense? What would be the best way to monitor this? Make a new monitor source in Cubase Control Room & turn off Direct Monitoring?

When I monitor though outs 1 & 2 (my main outs) I get phasing because of latency.