You do not have to run multiple wizards for an effective magic defense.
But first, the plaque of dominion is a solid choice (and a fun one!) when facing wizards. They usually have lower leadership than other (fighty) heroes and are therefore more susceptable for the plaque.
Thing is, the plaque alone isn't realiable in any way. It depends completely on dice and your opponents army list.
So, IMO you need some more magic defense. A single scroll caddy is enough.
Maybe:
Skink priest, Lvl 1, Dispell scroll, Diadem of Power
4DD 1 scroll, 4DD isn't ideal as you want 3 dice to stop 1 spell and the last dispel dice isn't that strong on it's own.
or
Skink Priest, lvl 1, Dispell scroll x2
3DD and 2 scrolls, you can stop 1 spell on 3 dice. and scroll 2 big nasties.
or
Skink priest, lvl 2, Dispell scroll, Diadem of power.
5DD and a scroll. My personal favorite, see below.
or even
Skink priest, level 2, EotG, Diadem of power, dispell scroll.
6DD and a scroll. Oh, and some angry stegadon with some very neat powers.
If you want to go low on magic defence, these are all solid options which are pretty cheap (bar the EotG ofcourse!) and effective.
My choice would go for the level 2 with diadem and a scroll. You now have 5 DD and a scroll. Nothing spectacular but you can stop a spell on 3 dice and another one on 2 dice. You also have a scroll for the must-stop spell.
Also, remember to use an active magic defense: i.e. Kill the wizards! (I have a part of that in my tactica)
Summary:
yes, the plaque of dominion is pretty good. It is also a pretty fun choice (letting the enemy wizards go stupid is pretty sweet

). But you need more magic defense than that, so enter the scroll caddie.
Just pick one which fits in your points budget and off you go!
The Hunted