I basically use a very similar equation. I feed 10-15% weight every 5 days for snakes under 300gm I shift that to once a week until loosely the 1000gm range. At this point I shift again only 4-7% weekly. I find weekly easy for me and it seems good for my snakes.
I have seen anything from equal girth to twice the girth. This is a very old school idea. Some tried and true methods are worth keeping some have been proven to be myths or down right dangerous. I do not thing this is a good method at best it leaves things open to error and difficult record keeping. When things go wrong accurate records can be a huge help.