I created a sub level location for my menu link by drag & drop. (ex: /about/FAQ) I was wondering if it is possible to go another level deep (3rd level)?
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Here are few more interesting links to get you as much information about the problem as possible:
I hope these resources help you! :)
Also found this rich answer with a quick search: How To: Global 3 Tier Hyperlink Navigation, allowing Dynamic DropDown
You can do it using the coding and change the CSS.
For sharepoint 2013
For SharePoint 2010: