Hey, Jeanne Grzelak - I will answer your question as I understand it, but first I want to state that this function is not recommended for performance implications. The recommended approach would be to use a CopyTable DL Connector (aka Apptio-to-Apptio connector) to push Table 2 back into the Data layer where you can then utilize a standard Lookup() function.
That being said, the LookupFromPath() function performs similar to the Lookup() function, but instead of pointing to a Data table, you can point to a Data Path. A Data Path is how Apptio defines a report table (among other things). You did call out your API URL so you were close to the truth here, but what you want is actually the 'Show Full Data Path' option in the context menu for the report, as opposed to the 'Show API URL' option.

Depending on the complexity of your report component, this can be a very long block of text. But, in general, you should see something like the following:
{Domain}:{Project Name}/
Reports/
.DateGoesHere/
CostModels/
Default/
{Modeled Object}/
.Summary
There are a few other common lines in there: like !NEWCOLUMN, !LIMIT_COLUMNS, or the like.
Outside of this being a useful tool when trying to understand how a table is being built, the nuts and bolts of reading a data path are irrelevant to your query. For your purposes, you should just be able to take this entire data path, surround with quotes (might need to make sure you don't have any double-quotes inside the path as well), and copy that into your lookup_data_path argument.