Here is the step by step via Martha Stewart...
With the small wreath's wire frame facing up, slip 1 end of a 5-foot ribbon length through frame's rim, and knot firmly. Repeat with 2 additional 5-foot ribbons, knotting at evenly spaced intervals around wreath.
Step 2Gather ribbons together, and knot at a point 15 inches above center of wreath. Leave these hanger ribbons in center of wreath while working on large wreath.
Attach three 4-foot ribbon lengths to large wreath frame.
Place large wreath on top of small wreath, aligning hanger ribbons. Gather hanger ribbons of both wreaths together, and knot 20 inches above center of large wreath. Trim ends of hanger ribbons above top knot to create a finished look.
Screw hook into ceiling. Hang wreaths from top hanger-ribbon knot.
Tie a 4-foot ribbon length at base of each hanger ribbon, and fashion into a classic bow. Trim bow tails to 12 inches.
Seems pretty easy right? Let me know if you give it a try!