The rule is simple and works for any traveling speed: pick any arbitrary mark on the road, watch as the car in front of you passes it, and count 3 seconds. You want at the very minimum, 3 seconds to pass before you pass that same mark.
This not only has the advantages described by the OP (he's definitely following it, if not calling it by name), but one thing he didn't mention is that it can save your life.
Why do car "pile ups" exist? It's because someone was driving along just fine, when suddenly they come to a crashing hault (at 70+MPH), and all of the tailgators behind them are not physically capable of reacting to the situation in time. SMASH! You're fucked.