Quick answer would be yes always hook up the ground wire.
So I reading your info I am thinking that your power supply is the same one that you are feeding 12 volts to the Ramps with and that you want to give the Ramps board a nice clean 5 Volts.
So first step would be to make sure you D1 diode has been removed from the Ramps board that will cut the connection.
So the official instructions say to power it via the USB plug for 5volts after you cut that connection, so you could make a little adapter cable to the regulator board.
So the rest of this is use at your own risk, but think your already using at least one of the pins. I use the Aux-1 pins for 5Volts and Ground you can see them on this image
Link. I had tried other pins but these ones gave me the best results with a LCD display. I had issues with it getting scrambled so move the 5 volt source plug as close as I could to the display.