Understanding Baud Rate
Yes, that's right.

Even more generally: Usually, we call what you call baud rate the symbol rate, and that is simply how many symbols per fixed time we transmit. The unit is baud [bd], and that's why many people call it (imho, slightly incorrectly) baud rate.

These symbols don't have to be on or off, only. If you, for example, had -3V, -1V, +1V, +3V as the four possible values on your line, than you'd have a bit rate (in bit/s) that would be twice as high as your symbol rate (in bd, or Sym/s), because every symbol carries two bits of information (four values = 2 bits of info, because 2bits = number of options).

Going away from the purely theoretical point of view: for longer links, a simple binary voltage communication is often unreliable, and you might very possibly have to look for other kinds of links that are designed to be used in this scenario. I'd recommend finding a way of analyzing your signal at the receiving end, and making sure you properly terminate that.