I'm not certain if you mean you make three loops when you tie the latigo off, or if you mean you make three loops with the actual length of the latigo. Neither should be necessary, and probably mean you have too long of a latigo, or too short a cinch.
The easiest thing to do is - buy a cinch that has a metal tongue on both ends. The off side of a cinch always has this, the cinch has the metal tongue which goes into a hole on the offside, right? Well, buy a cinch with the same set up on the left side of your horse. You simply wrap the latico through the cinch, up onto the saddle, back down to the cinch and pop the tongue into the proper hole. You don't need to tie off your cinch after that, because the metal tongue will prevent the latigo from loosening or unraveling. All you do with the excess latigo is thread it through the latigo holder.
If you don't have that type of cinch, then you simply do this.
Wrap the latigo through the cinch and back up to the saddle. Put it through the cinch again and up to the saddle. When you're at the saddle this time (I guess you could say you've made two wraps) you thread the latigo down into the saddle just as though you were going to go back to the cinch. But instead of pulling the latigo straight down, pull it off to the right side. Then basically you just tie a knot with it - by moving the latigo across from the right to the left, and threading it behind the cinch and up through the top.
You're right, without a photo its tough to explain.
Get a friend to show you, and you'll see it's very easy. I would avoid doing what you're doing because 1)you're getting too much bulk with three wraps behind your leg 2)it could still work loose without a knot or the tongue of the cinch.
Hope that helps.