Yes, connect that way. Your mobo normally will control the fan speed according to the internal case temperature. (You can adjust the details of this if necessary -read you mobo manual - but don't worry about that for now. It does this by varying the voltage supplied to the 3-pin 120 mm fan. Since you will have two fans in parallel fed by that voltage, they both will change speed according to the mobo's actions. However, when the BIOS tells you the speed of that case fan, that will be ONLY the speed of the 120. There is no speed signal being generated by the 80 mm fan and sent back to measure.
If you have mounted a fan against a solid sheet of metal, it will do almost nothing! You must mount each fan mated up to a grille or opening in the case so that it can move as much air as possible from outside the case to inside (intake), or from inside to outside (exhaust). Intake fans ALWAYS should have a dust filter on their intake side. Do not place filters over an exhaust fan.