It's a combination charger and boost converter module. I haven't tried it, but it uses the same chips as you are planning to use.
The thing is, Arduinos are usually power hogs. So you may not get much battery use between chargings. But it depends on how much current your project draws.
You'll need to rig up an ON/OFF switch on the battery somehow so you can turn everything off. Also, the above module assumes your battery has its own protection circuit, which most do.
As alsesam said, the Nano 5V pin is what you would connect to.