Yes, that approach will work. The 'master' HMI will use the DF1 serial driver. Sharing between HMIs is not crazy fast by my recollection and I'm not sure you want to move massive amounts of data this way, but sounds like it will work in your case.
Each of the 'slave' HMIs will use the OPC TCP/IP Master Driver. That will give each 'slave' HMI direct access to the 'master' HMI variables.
On slave HMIs, go to comms, create a new protocol, select 'OPC TCP/IP Master' as the driver. Now click on that new device: you'll see an entry for 'Device Address Space' that will allow you to select a .cd3 file from the 'master' Red Lion so you can share the variables between HMIs. Or if you've cleverly made both HMI's identical, you can use the same .cd3 file on all the Red Lions.
Now when you create a variable on the slave HMI, it will show up as a Data Source that you can select directly from the master HMI (like a PLC variable). This shares between Red Lions without further burdening the PLC. Slick.