The second way is the correct way. The link I put to us plastics is where I bought my check valve, check the hose diameter though before you order because I don't know if I linked to the exact correct size. I ordered a few so I would have spares or sell some to other DSMers. I would hook you up but I'm in Charleston and my extras got lost in the move.

As for that catch can you have, I got the same one from e-bay and it sucks a whole bunch of ass. The fittings at the top do not seal for crap and there is nothing inside that can to help separate the oil from the air. I highly recommend that you get a higher quality catch can. I'm very happy with the one I linked to in my earlier post. I think for a closer to stock application the stage 1 can would be fine, you don't really need 5/8" inlet and outlet fittings.