That looks great! I came up with something similar as well. I cheated and used priority mail boxes. Hey, I had them on hand.
I've got 3 of them stacked on top of each other. The only problem I'm having is that I think I put too many in one box. I have a flap on the front and when I pull one one ribbon two others come out as well and since I've taped the flap down I can't get inside easily. Guess I'll have to take it apart and redo the flap part.