You could do it that way. On the next row, knit the Vs and purl the bumps. For the next increase row you would have to place the purl increase 2sts from the end:
K2, p1, k1, p1, k1, p1, knit 1, purl 1 increase, knit 2.
I was thinking about consistently keeping the increases 2sts before the end as in
K2, p1, k1, p1, k1, p1, knit 1 increase, k2.
Then the next increase row would be
K2, p1, k1, p1, k1, p1, k1, purl 1 increase, k2
That way you always maintain the k2 at the end rather than putting the increase one before the end. One before the end won't matter for the knit increases but it will interrupt the edges when the increase is a purl.
If I'm in doubt, I work out the method on a scrap swatch for several rows to see if I like it. That'll save wear and tear on your project yarn, too.