If you use this flow control valve where you marked it on the input side of your control valve, you have to be sure that there is a pressure relief valve built in your pump or else you will destroy your pump. You will also have a lot of heat generated in the pump.
Best thing to do is to slow down the rpm of the pump or find an other pump with a lower flow rate or you can use 2 flow control valves like this http://www.northernt...39417_200339417
and mount each in the lines to the cylinders just after your control valve. This is the same as gravely-power suggested only here you can adjust it .
If you want a perfect control in each direction use 4 of this type http://www.northernt...36350_200336350
and mount each one in the lines to the cylinders just behind the control valve. In this way you can control both directions. Be sure to turn the flow direction of the valves right.