You'll need to get the water flowing through the media. Currently, it will only flow over the top of the sump from left to right.
I'd suggest left divider keep as is but put another one right of it. Space about 1 inch between it and 1.5 inch from the bottom so the water will pass under it to the next chamber.
Next divider (middle) can stay as is. Water is coming from the bottom of the second media-chamber and then over the top of the middle one.
Then repeat this on the right side, put an extra divider next to the last one (left of it)
Raise this one again and the water will come in bottom, go over the top into the pump-chamber.
For your overflow, you're spot on, 2 inlets merging into a 1" hose, gives more flow-capacity into the sump than out by the return-pump.
The inflow is regulated by the return-pump so no matter how big you make it, it will only flow as fast as the return-pump can manage.
Your return-pump should be ok, 10x your volume and some loss on head.
I'd advise to put a T in your return-line, where the top of the T is your return-line and the bottom of the T is connected to a valve with a hose that goes back into the first chamber of your sump.
If your flow is too much in the display tank, you can open the valve a bit and the water runs back and through your sump for extra filtration.
You'd have a chance of shorting the life-span of your pump if you just restrict flow. And besides: why not have some extra filtration on your water?
Make sure to drill a small hole in your return-line just below water-level to avoid the tank syphoning empty during a power-failure.
That's all I can think of. I'm in the process of doing exactly the same. Have a look at the pictures there. (
http://www.aquariacentral.com/forums/showthread.php?t=177028).
Good luck.