That's right, chop off the first rib but cut it back to the second rib (flush with it). As stated you could always build another rib, then fly it and chop the whole bay off later and recover.

If you are a little confused then look at it like this.

Say you crushed the very last rib (wingtip) and instead of repairing it you just want to remove it. No problem, grab your saw and cut off the section of the wing back to but not including the second rib from the wingtip making sure to cut it as flush as possible. Then sand any left over spar, sheeting (if you sheeted the wing) and the second rib from the original wingtip now becomes the wingtip. I would suggest sheeting the wing from the leading edge back to the spar on both the upper and lower wing, but it is not needed. You will add some weight to the plane but the wing will be much stronger