No real differences for this method come to mind for FMP 11 vs. FMP 12. What you describe is called a conditional value list.
Here are some links you may find helpful:
Forum Tutorial: Custom Value List?
Knowledgebase article: http://help.filemaker.com/app/answers/detail/a_id/5833/kw/conditional%20value%20list
Hierarchical Conditional Value lists: Conditional Value List Question
What you describe is what I call a "hierarchical conditional value list" as choice 1 filters the value list in field 2 and the choice in field 2 then affects the choices listed in field 3.
Feel free to post follow up questions here if those links aren't enough to get your value lists working correctly.