That is indeed the reasoning, but there is no good evidence that 3 strike laws reduce crime.
In fact multiple studies suggest that 3 strike laws have unintended consequences like increased fatal attacks on police, and twice sentenced criminals committing more serious crimes (because they will recieve a life sentence regardless of the seriousness of the offense).
agreed, they'd probably need to be substantially higher to really enter criminal's conscious consideration to put a dent in things, and even then it might only be a small dent, if any. Especially when the motivation is something like drug addiction.