Looks like you're on the right track. if it were mine I would probably cut it back almost half, to the node you would like it to branch again. you already have good forks about half way down. I would cut to the node, or like 1/4 inch above the node.
I'll try to save your picture and draw on it.

Ok, its not letting me do anything with the picture...
Looks like you have tons of nodes ready to pop. After cutting, good strong light. kind of looks like it's been in a not so great lighting situation.

I'm kinda worried for them. I wouldn't trim them until they are strong and healthy. A few questions:

- Do they get sunlight? They should be right next to a window, or outdooors (if you move them outside, they need time to transition from shade to full sun).

- Does the pot have drainage?

- What soil do you have in the pot?

They definitely didn't get a ton of sun during the winter, which is probably why its been just growing up instead of out. I live in the Yukon territory in northern Canada, so we don't get a lot of sun in the winter. I've moved it to a sunnier window. Its got cactus soil with some gravel at the bottom. I've checked the soil and its not overly damp. I actually made the chop already so hopefully it responds well.

That's great! :) Resist the urge to water it like it has lots of foilage is my last advice!