Yes, you're is the contraction of you are. Spelled y-o-u-apostrophe-r-e, pronounced /jɔːr/ (US /jʊr/). Unstressed speech reduces /juː ɑː/ to one syllable, /jər/ in rhotic accents, /jə/ in r-dropping ones.
You're right about the schedule. One beat, one word: /juː ɑː/ has collapsed from two full syllables to a single reduced one, /jər/ in rhotic accents or /jə/ in r-dropping ones. That reduced form is the fast, unstressed version; the sentence can also carry the beat with the fuller pronunciation.
Using it
You're welcome. A polite reply after someone thanks you.
I think you're right about the schedule. Here you're carries the beat, so it gets a fuller pronunciation; in the quick polite reply above it shrinks to one light syllable.
Say each sentence aloud and tap once per beat: you're takes a single tap either way, just heavier or lighter depending on stress.
The spelling trap
The spelling trap is your, which has no apostrophe and sounds identical in many accents, /jɔːr/. The difference lives only in print: you're marks the missing letters of are with an apostrophe, while your is one possessive word.
In fast speech both can reduce to /jə/, so trust meaning over ear: possession needs your, and you are needs you're. You're right about the schedule.