If all it takes is Allen and JO to get Bogut, make that trade straight up.
Allen and JO don't get the C's Bogut, in my proposed trade Allen and JO get the C's Josh Smith and Willie Green. Also, J Smith is a pretty good player... it may take 1 or 2 first round picks in addition to Bogut and Bass to pry him away.
In your trade, the Bucks only receive Ray and JO and they give away Bogut.
If that is the case, just drop Altanta, save the draft picks and get Bogut.
Or, make a separate trade that gets the Celtics Smith if they really want him.
A C is harder to get vs. a small PF, no matter how talented that small PF is.