The first one you connect to will have all your data.
PC->Router1(VPN3)->Router2(VPN2)->Router3(VPN1)->Modem
All three encrypted. I am also using Tor on top of this because as someone else said this is a static version of the onion system. I've pretty much accepted the fact that if someone chooses to find out what I am doing they will find a way, but I am going to make it as difficult as possible.