I recently bought that kit, and it was kinda cheap, and didnt work out for me.
Hydrofarms regulators are ok, but the flowmeters get stuck.. at least mine did.
Which in turn flooded my plants with way too much co2 until I caught it.
I returned the kit, and got a CAP reg-1 regulator/flowmeter..
And a digigro co2 controller that sniff's the air, and opens my reg/flowmeter when co2 is only needed to constantly provide 1500 ppm of co2 to my plants.
I had all kinds of problems figuring out how much co2 was needed by timer functions.
Its a good start, and the guy is not ripping anyone off at that price.... But you will probably upgrade fairly soon after you buy it.
Or maybe you'll get lucky and get a good working Hydrofarms reg/flowmeter from the dude..
Give it a try, What the heck.
Co2 really works, but dont gas em out too much.
And yes, this kit will work for your setup, but you gotta maintain high temps in order for the co2 to be beneficial(80+f.) and you should be running MH or Hps lighting.
Good luck
I