I want to take a recorded midi track consisting of various chords as the source for another track which will translate the chords into separate notes and record said notes onto a separate track. Any help will be appreciated.
I'm not quite clear on what you want to do. Logic can take a track with 4 note chords (for example) and assign each voice to its own track - you'd end up with four tracks. Good for moving piano voicings to horn parts, for example.. Is that what you want? There is no "recording" involved.
Score Editor>Functions>Note Events>Select Highest (or Lowest) Notes. Copy or cut these, paste to new track. Repeat as needed.