I think that plan would be good. The long leader has done the job of healing up the old cuts. Now it is time to get the tree back in proportion - these long great as a short, fat tree so cut away. I would cut to leave just 2 or 3 of the smaller side shoots. The higher one will become the leader and any others will be developed as branches.
Another cut will also add further taper to the trunk.
I wouldn't defoliate any more. Let it grow, feed it Heaps, and as it grows pinch out the growing tips to encourage back budding. Wire some shape into any branches You want to keep, then feed, water repeat.