2 monolayers will probably be of that order of magnitude, yes. But the exact value will depend on e.g. the termination of the surface etc.
Also, 2.5ML would mean 2 complette layers and one half-filled layer; meaning the top-most layer does not cover the whole surface. Again, what it looks really like will depend on the materials etc.
Btw, the reason the thickness is given in monolayers is because it is much easier to "count" the number of layers (using RHEED oscillations) during the film growth than it is to actually measure the thickness of the film.