No, that does not make sense to me.
For proper terminology and where to measure to and from on wheels Try here, page 47 or so among others:
http://www.accuridecorp.com/files/2012/10/Accuride-Wheels-Product-Catalog-Summer-2011.pdf

You said your wheels are "7.5-17's" but perhaps you meant to say tire, and thus the confusion?

•1951 GMC 250 in the Project Journals
•1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
•1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-