If you've updated to the 4.2.2 fastboot/adb files, they're somewhere in this thread, then yes, when it asks you which build you're on, say 4.2.
EDIT: Here's a link the post: http://xdaforums.com/showpost.php?p=37989017&postcount=956
Download the files, extract them and put them in the Toolkit folder (C:\Google Nexus 4 ToolKit) replacing the old files, double click adb-toolkit.exe and fastboot-toolkit.exe, then run the toolkit. Install the drivers using the toolkit, enable USB debugging, you'll get a popup on your phone saying some computer is trying to use ADB or something, tick the box that says always allow and press OK. The rest is pretty straight forward, make sure you read everything the toolkit says. If your device gets bricked, it's not my fault. Good luck!
After updating the files, I can root 4.2.2 using v1.3 toolkit correct? Just want to be sure before I do it