You have the right idea, light, breathable layers.

Winter basics in my cycling drawer include:

Base layer tops (sleeveless and long-sleeved). I like the synthetics. You can find inexpensive at campmor.com and sierrratradingpost.com

Ear-bands(cover those ears!)

Arm warmers

Kneewarmers or knickers

Full-fingered wind-block gloves

Wool socks

Toe covers

Vest (actually I think the jackets with zip-off sleeves are a great idea).

When the temps really drop add:

Fleece wind-block tights

Balaclava

Lobster-gloves

Neoprene booties (shoe covers)

Long-sleeved thermal jersey

Full jacket (with sleeves).