One thing I see is that you aren't doing weight training. If you are doing 2-3 hours of cardio and no strength training, you stand the chance of thrashing your metabolism in the long run. You want to make sure you lose body fat and not your existing lean muscle mass. If you just do cardio, that is what will happen.
I'd replace some of your cardio time with strength training. You might not feel like you're really burning calories, but in the long run, this will keep your body burning more calories per day on a regular basis.
As far as how much time your spending, I'm not qualified to answer that, but I can tell you that current government guidelines for exercise are 60-90 minutes per day to lose weight.