Hat Decrease Help Needed

I’m attempting to make a baby hat and the pattern for decreases reads as follows:

*K2 tog, k8, rep from * around 72 sts. Work 3 rows even. Continue to dec in this manner, having 1 less st between dec’s every 4th rnd 8 times more - sts.

So does this mean I have to do the pattern decrease once and then work 3 rows of regular knitting? And then continue 8 more times until I have 8 stiches left?

Thanks for your help.

You got it!