No. I think squatting 2X per week is ideal. You could play a bit with that 50% after a cycle or 2 if you feel it is to light.
I like the plan Jay. The only change I would suggest is to do pull-ups before dips on Military Press day.
I made my best gains on squats when I did them 2X per week.
My Favorite Part Of Lifting Is Having The Opportunity
Meet PR's: (May 2014) Raw Natural
Squat 475 lbs
Bench: 286 lbs
Deadlift: 501 lbs
Total: 1262 lbs
Squat: 495 lbs
Bench: 300 lbs
Deadlift: 520 lbs/500X5
Total: 1315 Lbs