Yes, what you have is right. I mistakenly put in the formula for g(x), but meant to put in the formula for f(x).
Right.
g(f(x)) = g\left(\frac{x}{x + 1}\right) = 1 + \frac{\frac{x}{x+1} + 2}{\frac{x}{x+1}}
The last expression can be simplified, but it's OK for our purposes right now. That expression is undefined if x = -1, because the two denominators in the rational expressions in the main numerator and denominator will be zero. The expression is also undefined if x = 0, since that would make the rational expression in the main denominator zero.
If you simplify that latter expression by multiplying top and bottom by (x + 1)/x over itself, you get f(g(x)) = 3 + 2/x, so it's no longer obvious that x can't be -1, but the only way that simplification could occur is if x is neither -1 nor 0.
Each of the graphs that make up the composite function is relatively easy to sketch. f(x) = x/(x + 1) = 1 - 1/(x + 1), by long division, and this is related to y = 1/x, but with a reflection and two translations, one horizontal and one vertical. Rf = {y | y != 1}.
g(x) = (x + 2)/x = 1 + 2/x, and this is also related to y = 1/x, with a stretch and a vertical translation. It turns out that Rg = {y | y != 1}.