It's the better record. Seeds are done after the second round. The Rangers are not going to have home ice next round.
As has been the case since 1979-80, 16 teams will qualify for the Stanley Cup Playoffs. This season, however, the format is a set bracket that is largely division-based with wild cards.
The top three teams in each division will make up the first 12 teams in the playoffs. The remaining four spots will be filled by the next two highest-placed finishers in each conference, based on regular-season record and regardless of division. It is possible for one division in each conference to send five teams to the postseason while the other sends just three.
In the First Round, the division winner with the best record in each conference will be matched against the wild-card team with the lesser record; the wild card team with the better record will play the other division winner.
The teams finishing second and third in each division will meet in the First Round within the bracket headed by their respective division winners. First-round winners within each bracket play one another in the Second Round to determine the four participants in the Conference Finals.
Home-ice advantage through the first two rounds goes to the team that placed higher in the regular-season standings. In the Conference Finals and Stanley Cup Final, home-ice advantage goes to the team that had the better regular-season record -- regardless of the teams' final standing in their respective divisions.