Right. The total displacement vector in the x direction will be double whatever the distance between one of the chlorine atoms and the y axis is (double, because there are two chlorines). There is no z axis to worry about here because the molecule is flat. The dipole moment will be the magnitude of the displacement vector times the charge density of chlorine.
EDIT: Doesn't really matter what the angle alpha is. The y components cancel out, so all that matters is the x-components, which you can get without alpha. Remember, it's the total displacement vector that counts, not the individual vectors. If you add your two vectors, you'll see you get a total vector lying exactly on the x axis (alpha disappears).