Multiple drop-down lists based on conditions

I am currently designing a email configuration tool which has a set of drop downs. They're all based on conditions, so every drop-down list triggers the next one and so on.

Below is a rough wireframe of how it will function:

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I am trying to figure out the best way to display this. At the moment, I'm thinking of the following:

  1. Lay this out in a row, left-aligned
  2. Create a multi-step form instead

Does anyone have any better suggestions?

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