Until a fuse is blown and the turbines run free, yes this will work, to an extent. When one or more of the fuses or regulators fail the turbines will go into runaway. Not a good thing.
If you are looking at LM7805 regulators you will be limited to 1 AMP at the final output as pushing them past this point usually releases the magic smoke.
Instead of your arrangement why not series the output from the rectifiers, place a much higher voltage rated cap across the final output of the rectifiers, and an in line blocking diode after the cap? That final diode will stop back drain of keeping the caps charged when the wind dies.
My base question is what the effort of this circuit is to be applied? Charging batteries will eliminate the need for regulation as the batteries will clamp the output until fully charged, and at the point a dump load must be employed to protect these batteries.
More detailed information as to the purpose of this device will allow us a more informed response.